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April 8, 2024
Question

Hi there! I noticed at the end of my tax owed, the $-3000 capital gains losses tax Im entitled to isn't added. I originally owe $1100 roughly, so this should be $0, no?

  • April 8, 2024
  • 1 reply
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1 reply

DaveF1006
April 8, 2024

The capital loss is not a tax credit, but it is a reduction of taxable income. Although it may reduce some tax liability, it is not a tax credit that offers a dollar per dollar reduction of your tax liability. 

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