I have tried to find an answer without much luck to what appears to be an uncommon situation with s-corps, so figured I give this forum a try.

Given the events of the current year, I'm currently looking at a net operating loss for my s-corp (which goes over my stock basis). However, I took advantage of the market crash back in March and bought some stocks using the company's brokerage account which resulted in some decent short-term capital gains that should offset the operating loss and yield a net positive cash balance at the end of the year. I'm rather confused on how this would impact taxes. Do I still qualify to deduct the s-corp operating loss (beyond my stock basis) in my personal taxes and add up the capital gains to my personal cap gains? or is it much more complicated than that?

Any help is much appreciated!