### Question
How does NORMAL TAXES AND SURTAXES define net short-term capital loss?


### Answer
Under *26 U.S.C. § 1222*, **net short-term capital loss** is defined as:

> the excess of short-term capital losses for the taxable year over the short-term capital gains for such year

#### Citation:
  - *26 U.S.C. § 1222*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter P-Capital Gains and Losses > PART III-GENERAL RULES FOR DETERMINING CAPITAL GAINS AND LOSSES**

