Hello. Does anyone know how the long and short-term tax losses can be deducted from overall income? For example, suppose I have $25,000 in short-term and $10,000 in long-term capital gains from trading shares this year. I'd like to sell the bad holding stocks to offset the capital gain. However, the majority of bad stocks are long-term. Let's say I sold the bad long term stocks and lost $35,000. Can that be used to offset the overall gain?
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