Can short term losses incurred this year be offset with short term gains in subsequent years?

[nirlay]

I have incurred a lot of short term losses but not enough short term gains. I was thinking of taking some long term gains ( at this point unrealized) and offsetting the short term losses with long term gains, but I guess that is not advisable.

[Mike9241]

it's somewhat of a personal decision. the markets are in turmoil. do you know where the value of the long-term stocks will be next year? 

you could offset all but $3000 of short-term losses with long-term gains since the tax laws limit the deduction of capital losses to $3000 each year. 

here's an example

$10K STCL

$7K  LTCG

net deduction $3K STCL

no carryover

don't take the LTCG in year 1

$10K STCL

deduction  $3K STCL

carryover to year 2  $7K STCL

take $7K LTCG in year 2

net $0

[nirlay]

how about this, a minor change ( since it best to pair STCL with STCG):

don't take the LTCG in year 1

$10K STCL

deduction  $3K STCL

carryover to year 2  $7K STCL

take $7K STCG in year 2

net $0

[fanfare]

If you have capital gains that you want to take, then any short term losses in the same year, or carried forward from prior years, will offset the income from those sales and reduce your tax.

@nirlay 

[nirlay]

Because Short term gains are taxed at a higher rate, it is not advisable to offset short-term loss with a long-term gain.