https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-have-both-short-term-and-long-term-capital-gains-i-want-to-offset-these-gains-can-i-use-long-term/01/1753219#M57777 If I have 3k in short term capital gains and 5k in long term capital gains, can I take 8k in long term capital losses to offset both of these gains? If not how do I do it? Wed, 09 Dec 2020 20:54:51 GMT bob3875 2020-12-09T20:54:51Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-have-both-short-term-and-long-term-capital-gains-i-want-to-offset-these-gains-can-i-use-long-term/01/1753219#M57777 If I have 3k in short term capital gains and 5k in long term capital gains, can I take 8k in long term capital losses to offset both of these gains? If not how do I do it? Wed, 09 Dec 2020 20:54:51 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/i-have-both-short-term-and-long-term-capital-gains-i-want-to-offset-these-gains-can-i-use-long-term/01/1753219#M57777 bob3875 2020-12-09T20:54:51Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-i-have-both-short-term-and-long-term-capital-gains-i-want-to-offset-these-gains-can-i-use-long/01/1753230#M57778 <P>The TurboTax program will make the calculation for you, which basically amounts to combining your capital gains with your capital losses.&nbsp;</P> <P>&nbsp;</P> <P>See&nbsp;<A href="https://www.irs.gov/publications/p544#en_US_2019_publink100072648" target="_blank">https://www.irs.gov/publications/p544#en_US_2019_publink100072648</A></P> <P>&nbsp;</P> <P>In the fact pattern you stated, your $8,000 in gains would essentially be combined with your $8,000 in losses, which would net to $0 gain/loss.</P> Wed, 09 Dec 2020 21:12:04 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-i-have-both-short-term-and-long-term-capital-gains-i-want-to-offset-these-gains-can-i-use-long/01/1753230#M57778 Anonymous_ 2020-12-09T21:12:04Z