allieflow3140 allieflow3140

27-12-2022
Business

Answered

The tax law requires that capital gains and losses be separated from other types of gains and losses. Among the reasons for this treatment are:
Long-term capital gains may be taxed at a lower rate than ordinary gains.
Capital losses that are short-term are not deductible.
Net capital loss is deductible only up to $3,000 per year for individual taxpayers.
a. and c.

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