You would think so, but it depends
- long term losses are used to cover long term gains only
- short term losses are used to cover short term gains first and then are used to cover long term losses
Did you have a short term loss? And if yes , when you moved a gain from short term to long term, it didn’t make a difference based on my 2nd bullet
The IRS is smart enough that you can’t use long term losses to cover short term gains because the tax rates are different and it’s to the IRS’s disadvantage to permit it
