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.

---

Definitions:

Brachial Artery

A major blood vessel of the upper arm, responsible for supplying oxygenated blood to the arm and hand.

Radial Artery

A major artery in the forearm that supplies blood to the lateral aspect of the hand and is commonly used for checking the pulse.

Deep Femoral Artery

A large branch of the femoral artery that supplies blood to the deep structures of the thigh.

Pulmonary Vein

A large blood vessel that carries oxygenated blood from the lungs to the left atrium of the heart.