A net capital loss carry forward can only be deducted to the extent that there are net tax- able capital gains in the carry forward year.

Name: A net capital loss carry forward can only be deducted to the extent that there are net tax- able capital gains in the carry forward year.
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Question

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This statement is true. Net capital losses can only be applied against net taxable capital gains in the same tax year or carried forward to future tax years for offset against future taxable capital gains.

A Net Capital Loss Carry Forward Can Only Be Deducted