complete the statements below regarding a net capital loss. for noncorporate taxpayers, an net capital loss (ncl) is deductible from gross income to the extent of $fill in the blank 1 per tax year. if the ncl includes both long-term and short-term capital loss, the capital loss is counted first toward the annual limitation. noncorporate taxpayers are allowed to carry over unused capital losses . capital losses retain their character when carried over.