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In the current year, Norris, an individual, has $62,000 of ordinary income, a net short-term capital loss (NSTCL) of $8,800 and a net long-term capital
In the current year, Norris, an individual, has $62,000 of ordinary income, a net short-term capital loss (NSTCL) of $8,800 and a net long-term capital gain (NLTCG) of $4,000. From his capital gains and losses, Norris can report an offset against ordinary income of (Enter only numbers. For negative numbers, use parentheses. Do not use $, commas, or decimal points.)
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