Treatment of capital gains and losses
(i) Losses
(i)Losses#
Deductions for losses from sales or exchanges of capital assets shall not be taken into account under subparagraph (A)(i).
(ii)Gains#
The amount of gains from sales or exchanges of capital assets taken into account under subparagraph (A)(ii) shall not exceed the lesser of—
(I) the capital gain net income determined by taking into account only gains and losses attributable to a trade or business, or
(II) the capital gain net income.
(ii)(I)#
the capital gain net income determined by taking into account only gains and losses attributable to a trade or business, or
(ii)(II)#
the capital gain net income.