@VolvoGirl is explaining the difference between a 'deduction' and a 'credit'.
The impact of a deduction depends on your tax rate, so a $3000 deduction at 15% is worth $450 to you
But a CREDIT is a dollar for dollar reduction, so a $3000 credit is worth $3000 to you
the $3000 capital loss is a DEDUCTION, not a credit.
