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Level 1
posted Feb 18, 2021 6:39:55 PM

Why does having a capital loss from last year 3k increase my tax due?

I changed the amount from -3000 to 0 and may tax due went down.Isn't this backwards. Also why can't I offset my loss? Gain isn't capped.

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1 Replies
Expert Alumni
Feb 23, 2021 6:10:08 PM

You are correct.  It does not make sense.

 

You need to look at other items on your return that could have contributed to the difference.