Which of the Following Is Not True of the Netting

question 1

Multiple Choice

Which of the following is not true of the netting process for capital gains and losses?

• A)Short-term capital gains and losses are combined and result in either a net short-term capital gain (NSTCG) or a net short-term capital loss (NSTCL).
• B)Long-term capital gains and losses are combined and result in either a net long-term capital gain (NLTCG) or a net long-term capital loss (NLTCL).
• C)If a taxpayer has both a NSTCG and a NLTCG or both a NSTCL and a NLTCL, the results are netted in the second stage of the netting process.
• D)If a taxpayer has either a NSTCG and a NLTCL or NSTCL and a NLTCG, the results are netted in the second stage of the netting process.

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Definitions:

Ego Ideal

The component of the personality composed of the standards of what one aspires to be, based on societal values and parental expectations.

Personality Component

Elements or traits that constitute an individual's distinctive character and psychological identity.

Moral Conscience

An internal sense of right and wrong that guides an individual's actions and decisions.

Personality

The combination of characteristics or qualities that form an individual's distinctive character.