Whoa! You don't calculate that, Turtbotax does. All you do is to enter each and every one of your trades into Turbotax. In the current year, all capital losses are first used to offset capital gains. Then, if there is still capital loss, $3,000 of that loss will be used to offset ordinary income. If there is still capital loss left over, it will be carried forward and will be usable next tax year.
