If I sell a stock and take a huge loss, does realizing other gains automatically adjust the cost basis?

[hiddenpower]

Made up figures: suppose I have a net realized loss of $100k in 2019. In 2021, if I sell $100k worth of gains, does my broker usually automatically track this for me? What about TT if i was using it the past three years?

[tagteam]

TurboTax will automatically transfer a capital loss carryforward to the current tax year.

If you have a $100,000 capital loss carryforward, you can use that loss to offset capital gains in the following tax year (in this instance, 2020). You have to bring that loss forward from 2019 to 2020; you cannot skip a year.