With Respect to Net Capital Loss Balances, Which of the Following

question 103

Multiple Choice

With respect to net capital loss balances, which of the following statements is not correct?

• A)When such balances are deducted, the amount deducted will be based on the capital gains inclusion rate which applied in the year in which the loss was realized.
• B)When such balances are carried back, they can be deducted only to the extent of tax- able capital gains arising in the carry back period.
• C)Such balances can be carried back three years.
• D)Such balances can be carried forward indefinitely.
• Allowable Business Investment Losses

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