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____ ____ tax

USA Today Up & Down Words clue · answer #3 in the chain · last seen June 29, 2026

Answer
CAPITAL
GAINS
CAPITAL GAINS · 12 letters · two-word phrase

About this clue

The Up & Down Words clue “____ ____ tax” has the answer CAPITAL GAINS. It is answer #3 in the chain — in this puzzle, the second word of each answer becomes the first word of the next. See the full June 29, 2026 chain for all seven answers, or browse every Up & Down Words puzzle.