GeorgeM777
Expert Alumni

Get your taxes done using TurboTax

Yes, that carryover loss of $57,000 will offset the 2022 gain of $57,000.   Losses are applied in order so that long-term losses will offset long-term gains, and short-term losses will offset short-term gains.  Then, if there still remains a gain after the losses have been applied in the proper order, whatever losses remain (whether-short term or long-term) are applied against the remaining gain.  

 

@ebot

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"