When a taxpayer has NSTCL and NLTCG,the loss is offset against NLTCG from the 28% group,then NLTCG from the 25% group,and finally against NLTCG from the 15% or 20% group.

Question

Quizplus · Accepted Answer

This statement is true. When a taxpayer has a net short-term capital loss (NSTCL) and a net long-term capital gain (NLTCG), the loss is first offset against NLTCG from the 28% group, then NLTCG from the 25% group, and finally against NLTCG from the 15% or 20% group. This is according to the tax regulations for capital gains and losses.

When a Taxpayer Has NSTCL and NLTCG,the Loss Is Offset