A partner's basis is increased by the amount of deductible loss that flows through from the partnership.()

If a sole proprietorship has a net operating loss for the current period, the loss can only be used to offset other business income in the current year.Any current loss can be carried back three years and forward five years and used to offset business income in those years.() 点击查看答案

For any unrecovered portion of an annuity investment, the taxpayer is allowed a deduction in the year of death.() 点击查看答案