No, not for your $20,000 as those losses were incurred before you formed your partnership with your spouse. As such, those losses remain with you as capital losses. You are correct in that you can offset $3,000 of ordinary income with your capital losses (if you file MFS, your ordinary loss offset is $1,500) and carryover the remaining amount of losses to subsequent years. However, you can offset your capital gains with your capital losses thus reducing the time it will take to fully extinguish your capital losses.
@ebot
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