Yes, your capital losses, up to $3000 maximum per year, will be deducted from other ordinary income (salary, interest, etc).
If your net losses are greater then $3000, then you will deduct $3000 in the current year, and the amount over $3000 gets carried forward, indefinitely, to be used up to $3000 per year, until all used up.
If your net losses are greater then $3000, then you will deduct $3000 in the current year, and the amount over $3000 gets carried forward, indefinitely, to be used up to $3000 per year, until all used up.