An Individual Taxpayer with 2016 Net Short-Term Capital Loss of $5,000

question 29

True/False

An individual taxpayer with 2016 net short-term capital loss of $5,000 generally can deduct up to $3,000 for AGI and carry the balance forward to 2017.

---

Definitions:

Significant Others

Are people who play important roles in the early socialization experiences of children.

Socialization

The process by which individuals learn and adopt the norms, values, behavior, and social skills appropriate to their society or social group.

Approval

The act of accepting or endorsing something, often in a formal or official capacity.

Cooley

Charles Horton Cooley was an American sociologist who is best known for his concept of the looking-glass self, which describes the process by which individuals base their sense of self on how they believe others view them.