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Mississippi Code Title 27. Taxation and Finance § 27-7-95

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) In the case of a corporation, losses from sales or exchanges of capital assets shall be allowed only to the extent of gains from such sales or exchanges.

(2) In the case of a taxpayer other than a corporation, losses from sales or exchanges of capital assets shall be allowed only to the extent of the gains from such sales or exchanges, plus, if such losses exceed such gains, the lower of:

(a) Three Thousand Dollars ($3,000.00) and One Thousand Five Hundred Dollars ($1,500.00) in the case of a married individual filing a separate return, or

(b) The excess of such losses over such gains.

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Cite this article: FindLaw.com - Mississippi Code Title 27. Taxation and Finance § 27-7-95 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-27-taxation-and-finance/ms-code-sect-27-7-95/

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