Short-Term Loss Capital Carryover Question?

Question

I have a short-term capital loss carry-forward and long-term capital gains in the current year. Can I apply the short-term loss carryforward against the long-term gain?

Answer 1

Unfortunately, you must do that on the federal tax return. All carryforward losses are treated as if they occurred in the new year and are part of all new gains and losses. If a new net loss exists, it is carried to 2007. Please be careful to place the ST carry-forward loss in the ST portion of Schedule D.

Answer 2

Short term capital loss carry-forwards are included in 'net short term capital gain/loss before that amount in netted against long term capital gain/loss. See Schedule D linked below.