Under Current Tax Laws, Capital Losses Can Be

question 113

Multiple Choice

Under current tax laws, capital losses can be

• A)simply lost.
• B)used to offset capital gains.
• C)used to reduce your last year's tax amount.
• D)used to offset dividend income.
• E)used to offset interest and rental income.

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Definitions:

Mixed Numbers

A number consisting of an integer and a fraction, used to represent quantities that are more than a whole but less than the next whole number.

Improper Fractions

Fractions in which the numerator is at least as large as the denominator.

Lowest Terms

The most reduced form of a fraction, where the numerator and denominator are the smallest whole numbers possible.

Mixed Numbers

Numbers consisting of an integer and a proper fraction, representing sums of whole numbers and fractions.