Anonymous
Not applicable

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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