Can Ordinary Business Loss from S Corporation, form 1120 S Schedule K-1 line 1, offset Long Term Capital Loss on Form 1040 for tax year 2020 ?

[Anonymous_]

Ordinary business losses from Line 1 of the K-1 from your S corporation can offset all other types of income provided you materially participate. 

I am assuming you meant to write "Long Term Capital Gain" since losses do not offset other losses.

[bart38]

Re: Can Ordinary Business Loss from S Corporation. , form 1120 S Schedule. K-1 line 1, offset Long Term Capital gain from Sale of public stock on my personal account ( not S Corp account) on Form 1040. for tax year 2020 ?
1. “ form 1120s  Corp K-1 , line# (1,000) loss

2. LongTerm Cap gain on sale of public stock ( not on S Corp Books) private.   $400

can you offset or must pay long term cap gain on th $400- assume I’m in 20% rate