What are my options for short-term capital losses?

[jatron]

Suppose  I have $10,000 in short-term capital losses and $20,000 in long-term capital gains in tax year 2020. What are my options?

I understand that I can use the short-term losses to offset the long-term capital gains, but this wouldn't be very effective since long-term capital gains are only taxed at 15% (as opposed to being taxed at the regular income rate). Are there other options that would allow me to apply the short-term losses to reduce ordinary income? For example, can I carry the short-term losses forward for use in future years? This would allow me to offset short-term capital gains or ordinary income in future years, which are taxed at the regular income rate.

[npierson7]

Yes, there is such an option. You can offset your ordinary income with your net capital losses up to $3,000 in a given year; net losses in excess of $3,000 can be carried forward indefinitely until the amount is exhausted.

[Bsch4477 · Accepted solution]

No. Gains and losses are netted against each other in the year they are generated. 

[jatron]

Can I offset ordinary income with $10,000 of short-term capital losses if I have $20,000 in long-term capital gains that year? Or am I only allowed to offset ordinary income with NET capital losses. If the latter, it seems like I wouldn't be able to offset ordinary income in the situation described above, since I don't have net capital losses (I have a $10,000 net capital gain).