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No, the $3,000 capital loss is a reduction in taxable income, not a dollar for dollar tax credit.
So, let's say you had $50k in income. After the loss, you now have $47k in income to be taxed. It doesn't get added to your refund like a tax credit sometimes will.
No, the $3,000 capital loss is a reduction in taxable income, not a dollar for dollar tax credit.
So, let's say you had $50k in income. After the loss, you now have $47k in income to be taxed. It doesn't get added to your refund like a tax credit sometimes will.
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