Question

The capital gains (losses) netting process for taxpayers without 25 or 28 percent capital gains requires them to (1) net short-term gains and losses, (2) net long-term gains and losses, and (3) net the outcome of steps (1) and (2) if they are of similar sign. Group startsTrue or FalseTrue, unselectedFalse, unselected

Answer 1

False

Step-by-step explanation:

Capital gains and losses netting will have no effect on tax payable. The individual impact on tax will be same as of netting the gains and losses. The net outcome of the tax will be remain un impacted.