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In the current year, Norris, an individual, has $68,000 of ordinary income, a net short-term Capital loss (NSTCL) of $8.200 and a net long-term capital
In the current year, Norris, an individual, has $68,000 of ordinary income, a net short-term Capital loss (NSTCL) of $8.200 and a net long-term capital gain (NLTCG) of $4,600. From his capital gains and losses, Norris reports: Multiple Choice 1 0 O an offset against ordinary Income of $3,000 and an NSTCL carryforward of $5.200. 0 an offset against ordinary income of $3,000 and an NSTCL carryforward of $600, 0 an offset against ordinary income of $3,000 and an NSTCL carryforward of $3,600. 0 an offset against ordinary Income of $4.600 and an NSTCL carryforward of $3,600. 0 an offset against ordinary Income of $8,200
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