@hemandave80 unfortunately, it is a one way street:
As noted, if you had a big gain last year and a big loss this year, you can NOT use this year's loss to offset last year's gain
HOWEVER, let's say it was the other way around:
if you had a big NET LOSS last year (which creates a loss carry forward), and had a BIG gain this year, you could carry the loss FORWARD to offset the gain.
but you can't carry the loss BACKWARDS to offset the gain, hence a 'one way street'
