Lee qualified as head of a household for 2015 tax purposes. Lee's 2015 taxable income was $100,000, exclusive of capital gains and losses. Lee had a net long-term capital loss of $8,000 in 2015. What mount of this capital loss can Lee offset against 2015 ordinary income?
a. $0
b. $3,000
c. $4,000
d. $8,000
Answer: B
Tax
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- Income in respect of a cash-basis decedent
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