At-risk rule

Definition - Noun
: any of several rules enacted by the Tax Reform Act of 1976 that restrict the deduction from income a taxpayer may take for a loss to the amount for which the taxpayer is personally liable



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Based on Merriam-Webster's Dictionary of Law ©2001.
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substituted contract

a contract between parties to a prior contract that takes the place of and discharges the obligations under the prior contract


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