topic Can a capital loss carryover be used to off set a short term capital gain? in Investors & landlords

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

hbritt — Thu, 06 Jun 2019 05:27:23 GMT

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

Fern — Thu, 06 Jun 2019 05:27:25 GMT

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

assuming if I have $50000 carryover capital loss, this ye...

shunchang — Thu, 06 Jun 2019 05:27:26 GMT

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