Yes, but there are limits. Losses on your
investments are first used to offset capital gains of
the same type. So short-term losses are first deducted
against short-term gains, and long-term
losses are deducted against long-term gains.
Net losses of either type can then be
deducted against the other kind of gain.
For additional information please see this TurboTax article, Capital
Gains and Losses, which has been updated for Tax Year 2017.
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