Stock market losses offset future year Real Estate capital gain


I'm thinking to sell a portion of stocks at loss (about $40K loss), and take a break from stock market for sometime.

Question: If I sell my townhouse next year (2023) with $80K capital gain. Can my 2022 stock loss offset/cancel $40K of real Estate capital gain in 2023?

Is it allowed? If so, Anyone done this before?


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