Offset capital gains with stock losses?

[Ray S.]

This year I got clobbered on some stock investments but am also considering selling a property that will have some gains. Can I offset the gains of the property with the stock losses? 

[Dominick Austria]

@Ray S. Stocks are considered capital assets. So losses from stock trades are capital losses. If you have $100,000 of capital gain on the property, and $100,000 short term capital loss from the stock, these will offset each other. If you have $103,000 of short term loss, then you would have a $3,000 deduction against all of your other income. In short, yes you can do what you are planning.