All the capital gains and losses occurring in the same year will be applied against each other to determine the overall capital gain or loss for the year.
Losses on your investments are first used to offset capital gains of the same type. So short-term losses are first deducted from short-term gains, and long-term losses are deducted against long-term gains.
Short-term is anything held less than one year.
See this link for more detail.
https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8
