Net Capital Losses Can Be Carried Forward or Back, but Can

question 77

True/False

Net capital losses can be carried forward or back, but can only be deducted to the extent of net taxable capital gains in the carry back or carry forward year.

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Definitions:

Without Bound

An expression indicating that there is no limit or boundary to a certain condition or value.

Time Constraint

A specific limit or period within which a task or project must be completed.

Inequality/Equality

Mathematical expressions that describe the relationship between two values, indicating whether they are unequal or equal respectively.

Monthly Profit

The net gain or income that a business generates in a particular month after all expenses are subtracted from revenues.