No, there is no netting or income averaging for capital gains and losses that occurred in different years. You must report last year’s gain, which can only be offset by last year’s capital losses, plus any capital loss carryforwards to last year from prior years. This year’s loss can offset capital gains this year, plus up to $3,000 of ordinary income. Any excess capital loss can be carried forward and used in future years. There’s no time limit for using up capital loss carryovers.
Debt secured by a principal residence or second home to the extent of the excess of fair market value over acquisition debt. An interest deduction is generally allowed for home equity debt up to $100,000 ($50,000 if married filing separately).