Can long gain on sale of publicly traded stock be offset with NOL carryforwards from a business?
Client owns a business which is early in life. The business is a flow-through, and the client currently has ~$325,000 of loss carry forwards.
The client also has ~$400,000 in long gain in a taxable brokerage account. We would like to go to cash on a few positions, and I'm working to ascertain if any of this gain could be offset by the NOL carried forward into 2020.
Thanks for any insight or direction.