Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 9:36:01 AM

I have a capital loss so shouldn’t I be receiving the $3000 for refund?

My capital loss is more than $3000. In my refund review I’m getting lesser than $3000. Do I have to wait until next year to receive the $3000?

0 1 1091
1 Replies
Level 9
Jun 6, 2019 9:36:02 AM

You are misunderstanding how the capital loss affects your taxes.  You do not get a credit for $3,000 against your taxes - instead your taxable income is reduced by $3,000.  How that impacts your ultimate tax liability depends on many things, including your income and deductions.