The long term capital losses are going to get used against the short term gains. The investment interest expense will not be used to offset this income. If your long term losses do not exceed your short term gains you are going to have short term regular income for this tax year.
Investment interest goes on schedule A with the mortgage interest on your home and your property taxes and other itemized deductions. If you don't have enough deductions to itemize then you will take the standard deduction and receive no additional benefit from the investment interest.
Here is a good article from TurboTax on the investment interest deduction.
@steiny1227
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