which of the statements below is correct concerning capital losses of an individual taxpayer?

1. a 20x2 net capital loss is deductible only up to $3,000 per year.

2. excess net capital loss carries back and may be deducted in a prior year.

3. a net capital loss may exist when capital gains exceed capital losses.

4. capital gains and losses need not be matched with one another.

5. none of the above