One important tax rule concerning capital losses is that
A) capital losses are always fully deductible.
B) a maximum of $3,000 of losses in excess of capital gains can be written off against ordinary income in any one year.
C) a maximum of $10,000 of losses in excess of capital gains can be written off against other income in any one year.
D) capital losses are never deductible.
Answer: B
Business
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