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A net short term capital loss first offsets any 28% net long term capital gain before...

A net short term capital loss first offsets any 28% net long term capital gain before it offsets either 25% net long term capital or 0%/15%/20% net long term capital gain

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Answer #1

True

Because yes, but there are limits. Losses on your investments are first used to offset capital gains of the same type, So short term losses are first deducted against short term gains and long term losses are deducted against long term gains . Net losses of either type can then be deducted against the other kind of gain

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