George King’s date of death is October 24, 2022. In his final tax return for 2022, taxable capital gains of $200,000 on his stock portfolio were reported. In 2023, the value of his stock portfolio declined severely. The portfolio was sold in late 2023 by the estate executor, creating a large capital loss. As well in 2023, a large donation was made to the local hospital in accordance with George’s wishes as documented in his will. 

Describe the best way to use the capital loss and the donations.