Net capital loss carryovers are deductible againstnet capital gains in determining a corporation's net operating loss for the year.

Name: Net capital loss carryovers are deductible againstnet capital gains in determining a corporation's net operating loss for the year.
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Question

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Net capital loss carryovers can be used to offset net capital gains and can also be used to reduce a corporation's taxable income by offsetting any net operating losses incurred during the year.

Net Capital Loss Carryovers Are Deductible Againstnet Capital Gains in Determining