true or false

if a business debt previously deducted as partially worthless, becomes totally worthless this year only the amount not previously deducted can be detected this year

True or false

in determining whether a debt is a business or non-business bad that the debtors use of the borrowed funds is important

True or false

The amount of partial worthlessness on a non-business bad debt is deducted in the year. Partial worthlessness is determined.

true or false

A Lost from a worthless security is always treated as a short term capital loss

True or false

If a taxpayer sells her or his 1244 stock at a loss, all of the loss will be ordinary loss

True or false

An individual may deduct a loss on rental property, even if it does not meet the definition of a casualty loss

True or false

Other casualty means casualties similar to those associated with fire, storms, or shipwrecks

True or false

Currently a personal casualty loss deduction is allowed only for losses occurring in a federally declared disaster area

True or false

If the amount of the insurance recovery for a theft of business property is greater than the assets, fair market value, but less than it adjusted basis, a gain is then recognized

True or false

the amount of loss for partial destruction of business property is the decline in fair market value of the business property