Can I take a long-term capital loss (up to the $3,000 limit) against my ordinary income without any long-term capital gain?

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Yes. The $3,000 capital loss limitation refers to how much net capital loss can offset ordinary income on your tax return. For more information on capital gains and losses and capital loss carryovers, refer to Chapter 4 of Publication 550 (PDF), Investment Income and Expenses.

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