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To be a bit picky, your use of the terms "can use" and "can be used" is not quite correct. Saying it that way makes it sound like it's an option. But you have no choice about how the capital loss carryover is used each year. The calculations must be done according to the tax law. The capital loss carryover will be used every year as you have outlined, even if you would prefer not to use it in a particular year.
One other point. It's not quite true that the capital loss carryover does not expire. It expires when you do (that is, when you die). Any remaining capital loss carryover that is not used on your final tax return is forfeited.
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