If an Individual Taxpayer's Net Long-Term Capital Losses Exceed the Net

question 15

True/False

If an individual taxpayer's net long-term capital losses exceed the net short-term capital gains,the excess may be offset against ordinary income up to $3,000 per year.Any excess losses over $3,000 may be carried over indefinitely.

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Definitions:

Action Listener

An interface in Java that listens for and handles ActionEvent, typically involving user interaction with GUI components.

Button Action

An event or behavior that is triggered in response to the user clicking a button in a graphical user interface.

View Port

The visible area of a component, application, or document being displayed on a screen.

Class Color

In programming, it's a class used for defining color objects that can be used with graphical components.