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All of the following statement regarding the tax treatment of capital gains and losses are correct EXCEPT: Question 21 options: Generally, capital losses can only
All of the following statement regarding the tax treatment of capital gains and losses are correct EXCEPT: Question 21 options: Generally, capital losses can only be deducted against capital gains Generally, capital gains cannot be deducted against ordinary income For individual taxpayers, $3,000 of capital losses can be deducted against ordinary income Capital losses in excess of $3,000 cannot be carried over to future years
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