If an Individual Taxpayer's Net Long-Term Capital Losses Exceed the Net

question 83

True/False

If an individual taxpayer's net long-term capital losses exceed the net short-term capital gains,the excess may be offset against ordinary income up to $3,000 per year.Any excess losses over $3,000 may be carried back three years and carried forward five years.

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Definitions:

Historical Accounts

Narratives or records of past events and occurrences based on factual information or evidence.

Anxiety Reactions

Physical and emotional responses triggered by perceived threats or stressful situations, often characterized by feelings of tension, worry, and increased physiological arousal.

Family Studies

Research that investigates the influence of genetic, environmental, and psychological factors on behaviors and conditions within families.

Anxiety-Related Disorders

A group of mental health disorders characterized by excessive fear, worry, or anxiety that interferes with daily activities.