Seprah had a $$21,000$ net capital loss which was realized in $2018.$

First carryback $3$ years, if cannot carryforward $10$ years. What does this mean show clearly what is happening in this situation with the numbers?

$2021$:

Capital gain: $144,000$

Capital loss $($excluding BIL$)$: $18,000$

$2022$:

Capital gain: $0$

Capital loss $($excluding BIL$)$: $22,500$

$2023$:

Capital gain: $160,000$

Capital loss $($excluding BIL$)$: $80,000$