Can you clarify once again... short term gets used first then long-term, correct? yes.
up to $3,000 of capital losses can be used to offset other income. figure taxable income without the capital loss. if it's more than $3,000 then $3,000 of capital losses will be used. if taxable income is less than $3,000. then the lesser amount will be used. page 1 of the 1040 will always show the $3,000 loss, (the IRS rules not Turbotax) but Turbotax will correctly compute the actual carryover.
