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

question 103

True/False

If the 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 over indefinitely.

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Definitions:

Variables

Elements or features that can change and affect the outcome of a model or experiment, often used in research to measure and analyze differences.

Direction

The course along which someone or something moves, or is aimed or pointed.

Positive

Characterized by or denoting an affirmation, addition, or increase, often associated with beneficial outcomes.

Cold Drinks

Beverages that are served chilled, commonly refreshing and enjoyed in hot conditions.