Short Term Capital Gains and Long Term Capital Losses

Yes.

The netting rules are:

• First offset ST gains with ST losses.
• Then offset LT gains with LT losses.
• Then if one category has a loss and the the other a gain, offset the gain in one category with the loss in the other.

-- Rich Carreiro snipped-for-privacy@animato.arlington.ma.us

Yes. The Schedule D computations combine the net results of short- and long-term sections in order to determine the resulting amount to be entered on line 13, Form 1040 (capital gains). Bill

Yes, see Schedule D and instructions. If your capital losses are more than your gains you can also offset up to $3,000 against ordinary income. Any further excess gets carried over to the next and future years, and is used in the same manner.

I think that under US tax law we *have to* offset these two things. Matter of fact, all capital gains and capital losses, LT and ST, are netted against each other under US tax law, sorta like automatically. See how Schedule D works...