Suppose I have $10,000 short-term capital losses from sale of stocks, $10,000 short-term capital gains from mutual fund distributions, and $20,000 long-term capital gains from sale of stocks.
Can I offset $10,000 short-term capital gains from mutual fund distributions with $10,000 short-term capital losses from sale of stocks? If so, what forms need to be filled out? I'm asking because the tax return prepared by TurboTax is netting the $10,000 short-term capital losses from sale of stocks against the $20,000 long-term capital gains from sale of stocks, which is less effective since long-term capital gains are only taxed at 15% (as opposed to being taxed at the regular income rate).
