When Applying the § 382 Limitation to Deductible Losses and Credits

question 136

True/False

When applying the § 382 limitation to deductible losses and credits, the § 382 limit first is applied to capital loss carryovers and then to NOLs.

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Definitions:

Pregnant Women

Women who are in the state of carrying a developing fetus within their uterus.

Assimilating Identity

The process whereby individuals or groups adopt the culture, customs, and identity of another group, often the dominant one, while shedding their original identity.

New Identity

The process of developing or adopting a new sense of self or persona.

Dramatic Bodily Changes

Significant alterations in the body that can occur due to factors like puberty, aging, disease, or lifestyle choices.