Question: kindly verify which statements are true or false 1. The amount of a bad debt deduction is generally limited to the adjusted basis of the

 kindly verify which statements are true or false 1. The amount

kindly verify which statements are true or false

1. The amount of a bad debt deduction is generally limited to the adjusted basis of the debt in the hands of the taxpayer. 2. A nonbusiness bad debt is always treated as a long-term capital loss for tax purposes. 3. Taxpayers cannot deduct the cost of tickets to any entertainment activity or facility regardless of whether or not the taxpayer's attendance at the activity is related to business. 4. Vitamin pills taken daily for general health are a qualified medical expense

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