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I believe that when this happens you are still allowed to carry forward the capital loss to be used in the future so you haven't lost the offset.

I agree with Phil, I think you misunderstood and are confusing scenarios.

In my situation, I have a capital loss in 2011 of $4,000. I also have a gain of $10,000. So my net gain is $6,000. However, I'm in tge 15% bracket, so my gains are taxed at 0%. I would not have paid any tax on the gain of $10,000, with or without the $4,000 loss. On the plus side, I realized this while we are still in 2011 and I can sell some more appreciated stock since I still have some room in my bracket.
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