net capital loss of x will offset a net capital gain of x
some types of ordinary loss of x may, may not, or more than fully offset a capital gain of x
a passive loss of x may not be fully deductible while the gain would be
an ordinary loss of x could more than fully offset . equal gain (as far as taxes) because long term gains could be taxed at 0% while the schedule C could reduce self-employment taxes and ordinary income taxes
