Short-Term Capital Losses Are Netted Against Long-Term Capital Gains, and Long-Term

question 18

True/False

Short-term capital losses are netted against long-term capital gains, and long-term capital losses are netted against short-term capital gains.

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Definitions:

Sonia Sotomayor

An Associate Justice of the Supreme Court of the United States, appointed in 2009, and the first Hispanic and Latina member of the Court.

Hispanic

A term used to describe people or cultures connected to Spain or Spanish-speaking countries, especially those countries in Latin America.

Supreme Court

The highest federal court in the United States, which has ultimate appellate jurisdiction over all federal and state court cases that involve a point of constitutional or federal law.

Appointed

Selected or designated to a position or role by authority rather than by election.