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

question 83

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 back three years and carried forward five years.

---

Definitions:

Stretching Frequency

A term used in vibrational spectroscopy to describe the rate at which a bond between atoms vibrates, often measured in wave numbers (cm^-1).

Broad Absorption

In spectroscopy, it indicates a wide range of wavelengths over which a substance absorbs electromagnetic radiation.

IR Absorption

A technique used to identify and study chemicals by measuring the absorption of infrared radiation at different wavelengths.

IR Spectroscopy

A technique used for identifying and studying chemicals by analyzing the infrared light absorbed, emitted, or scattered by the sample.