If an indivdual taxpayer's net long-term capital losses exceed the net short-term capital gains,the excess may be offset against ordinary income up to $3,000 per year.Any excess losses over $3,000 may be carried back three years and carried forward five years.

Question

Quizplus · Accepted Answer

Capital losses exceeding $3,000 can be carried forward indefinitely, not carried back three years and carried forward five years.

If an Indivdual Taxpayer's Net Long-Term Capital Losses Exceed the Net