The Maximum Amount of Net Capital Losses Individuals May Deduct

question 79

Multiple Choice

The maximum amount of net capital losses individuals may deduct against their ordinary income per year is:

• A) $3,000
• B) $5,000
• C) Zero, losses are not deductible
• D) There is no maximum. All losses are allowed to be deducted.
• E) None of these

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Definitions:

Cenozoic

The current geological era, beginning 66 million years ago and characterized by the dominance of mammals, birds, and flowering plants.

Mesozoic

An era of geological time from about 252 to 66 million years ago, known for the dominance of dinosaurs and the development of mammals and flowering plants.

Dominant Creatures

Referring to the species that exert the most influence over their environment or ecosystem, often due to their population size, biomass, or ecological role.

Diagnostic Features

Characteristics or attributes that help in the identification or diagnosis of conditions, diseases, or differentiating among various options.