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If a husband and wife file separate income tax retums, the excess of net long-term capital loss over net short-term capital gain on each return
If a husband and wife file separate income tax retums, the excess of net long-term capital loss over net short-term capital gain on each return is Limited to a maximum deduction of $3,000 from ordinary income. Limited to a maximum deduction of $1,500 from ordinary income Allowed as a carryback to each of the 3 years preceding the loss year. Reduced by 50% before being deducted from ordinary income
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