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:

Disclosing Stigma

The process of revealing a characteristic or condition that might lead to social discrimination and judgment.

Illness Behavior

The ways in which individuals perceive, experience, and react to feelings of ill health, separate from the actual presence of disease.

Diagnosis

The identification of the nature and cause of a health condition through examination of symptoms and often diagnostic tests.

Treatment

Medical care given to a patient for an illness or injury, aiming to relieve symptoms or cure the condition.