Deductions & credits

Thx Coleen. I was unclear. The capital loss was over $3K and TT correctly applied only $3K of the loss to 2020. On that $3K, I expected a lower tax amount of $600 (20%) but TT calculated it at $1,110 (37%). I also simulated what TT would calculate had it been a gain. That returned a tax increase in amount of 20% of the gain, which I expected. Why would TT use 37% when it's a capital loss and 20% when it's a capital gain? And yes, I reported this in the Investment section.