tax loss harvesting question

[aim-high]

I understand that there is a $3000 limit on capital loss that I can claim each year.
1. If i made $5000 loss in 2022 and had total gain of $1000 in 2022. Loss - gain = 5000 - 1000 = 4000. When I file for taxes, can I claim only $3000 of the loss and the remaining $1000 loss i can only claim next year.
Is my understanding correct ?

2. Here is another situation.
End of this year, if i have

Short term loss - $5000
Short term gain - $2000
Long term loss - $10000
Long term gain - $2000

I understand the short term loss should be offset short term gain. So in this years tax filing, I can claim $3000 of loss but can I also claim long term loss OR $3000 is the limit for both short term + long term.

--Sunray

[corn18]

Yes, you can only claim $3,000 net capital loss in any tax year. Some people still have hundreds of thousands of carryover left over from 2008/2009.

[LivingAlmostLarge]

Yes, you can only claim $3,000 net capital loss in any tax year. Some people still have hundreds of thousands of carryover left over from 2008/2009.

but if you have some harvested wins you can wipe it all out

[corn18]

but if you have some harvested wins you can wipe it all out

Very true. Tax gain harvesting is a good thing.