Yes. You can do that if you want but your Losses can offset some of the gain and possibly reduce your taxes.
You can manually enter a summary of the losses. Be careful to total short term loses separately from Long-term. There's a very big difference. The tax law divides capital gains into two different classes determined by the calendar.
- Short-term gains come from the sale of property owned one year or less and are taxed at your maximum tax rate, as high as 37% in 2020.
- Long-term gains come from the sale of property held more than one year and are taxed at either 0%, 15%, or 20% for 2020.
If you decide to summarize into Long or Short Term loss use the earliest dates for purchases as the purchase date for the bunch.
For additional guidance on Capital Losses see link below.
Capital Gains and Losses
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