The Excess of Nonbusiness Capital Gains Over Nonbusiness Capital Losses

question 30

True/False

The excess of nonbusiness capital gains over nonbusiness capital losses must be added to taxable income to compute an individual's net operating loss.

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Definitions:

Lamp Shades

Covers used to diffuse the light from a lamp, often decorative and used to control the lighting ambiance of a room.

Exchange

A process by which two parties come to a mutual agreement to trade goods, services, or information.

Store

A retail establishment where goods and services are sold to consumers.

Money

A medium of exchange that allows people to purchase goods and services; it serves as a unit of account, a store of value, and a standard of deferred payment.