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Deductions & credits
@zenmit wrote:
Is this a software glitch or is this correct?
The software is correct. In short, capital losses offset capital gains. Your $13,000 loss was used to offset your $19,000 gain leaving a net gain of $6,000.
Where there may be confusion here is that $3,000 in net capital losses is the maximum that can be used, in any one tax year, to offset all other types of income. So, if your total gains were $13,000 and your total losses were $19,000, you would have a net capital loss of $6,000. You could then use $3,000 of that $6,000 loss to offset your other income with the balance ($3,000) being carried forward to the next tax year.
See https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8
‎January 28, 2021
7:41 PM