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Taxation

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What do you think about a person in a situation where they have had income some years and losses in others? A person has paid taxes in some years on income. Should the losses be deductible if the subjective criteria are not in the taxpayer's favor?

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If an individual has losses in the same year as income and the losses are able to be deducted under the tax code, then the individual should be able to deduct those losses. If the subjective criteria is against the individual in that tax year, then the ...

Solution Summary

Income in some years and losses in others are examined.

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