Can long term capital loss offset short term gain?

[xiaofanglin]

my short term capital gain is 32k, the short term loss is 5k. The long term capital loss is 12k. For my understanding, the short term capital loss 5k will offset from short term capital gain 32k. The rest of my short term capital gain will be 32k-5k=27k. and then 27k can offset the long term capital loss 12k. Which my short term capital gain is 27k-12k=15k in 2018. Am I correct?

[ScruffyCurmudgeon]

Yes.  The process is to use available short-term capital loss to set off against short-term capital gain, and then if there is still a net s/t cap/gain,to use available long-term capital loss to further set off against s/t cap/gain

https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8

Remember that capital loss can be used up to $3,000 to set off against ordinary income.

[Hal_Al]

All that will show on form(s) 8949 and Schedule D.  You just enter your sales and TT does the rest.