With the total loss of 2% Miscellaneous itemized deductions, where are 1041 beneficiaries in final year going to deduct their respective carryover losses from the K-1, or people with 100% distributions of ROTH-IRA with losses going to deduct the losses? This doesn't effect only your hobby loss expenses..
Good States
1. Happiness
2. Positive
3. Blissful
4. Confident
5. Alcohol Induced
Bad States
1. Dilemma
2. Poor State
3. Desperate Straits
4. Predicament
5. Alcohol Induced
And of course the State of Affairs can be anything.