Can $23k of interest income (CD and/or SPAXX interest) be offset with a $23K loss in a stock to balance zero

[Opus 17]

Only up to $3000 per year.  The rest is carried forward.  Capital losses only fully offset capital gains, not interest or other types of income.  If you have no capital gains to offset, you can deduct $3000 of your losses and carry the rest of the loss forward.