Can a capital loss carryover be used to off set a short term capital gain?

[Fern · Accepted solution]

Yes, you can offset a short-term term capital gain with a long-term capital loss carryover.

However, you need to offset any long-term loss carryover against any long-term gains before you can offset any short-term capital gains.


https://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gains-and-Losses

[shunchang]

assuming if I have $50000 carryover capital loss, this year (in 2016) I have short term capital gain of $70,000 gains, can I write off all of $50,000 capital loss?  If not, what is the best way to off set $50,000?  Thanks