I saw in your reply:
"However, when there is only one type of capital loss being carried over, it can be used to offset the current year capital loss regardless of it is for a short term or long term capital loss."
I have both types of loss being carried over (long term and short term capital losses). For example if my long term loss carryover is $50,000 (for tax year 2020) and my short term loss carryover is $40,000 (for tax year 2020) and I have a long term capital gain the following year (tax year 2021) of $90,000 (and this is my only capital gain that year), will both the long term of $50,000 and the short term carryover amounts of $40,000 offset the long term capital gain of $90,000 and I will have a net no tax due on the 2021 $90,000 because those gains were fully offset by the combination of the short and long term capital loss carryovers from tax year 2020? And if it does cover this capital gain for 2021 will Turbo Tax handle this carryover deduction correctly? Thank you.
