QUESTION 73 The earned Income credit, a form of a negative income tax, is a refundable credit. True False QUESTION 74 Generally when one has a carryover basis in an asset, their holding period is added to that of the prior holder of the asset in determining whether gains or losses on disposition or long-term True False QUESTION 75 In the current year, Louise invests $50,000 for a 10% interest in a passive activity. Her share of the loss this year is $75,000. Her active business income is 590,000 this year. If this is her only passive activity, the entire 575,000 loss from the activity this year is deductible True False Click Save and Submit to save and submit. Click Save All Answers to save all answers, Save All A 16