Question
What is the ordering of loss limitations for individuals?
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Answer
Basis, at-risk, passive activity, then excess business loss.
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Question
How does HoH status differ from Single status?
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Answer
HoH requires an unmarried taxpayer supporting a qualifying home.
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Question
Why is the Child Tax Credit only partially refundable?
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Answer
It can reduce tax and also produce a limited refund.
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Question
How does passive activity loss treatment differ from active losses?
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Answer
Passive losses offset only passive income and otherwise carry forward.
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