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amyonghwee
April 4, 2024
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CA capital loss carryover

  • April 4, 2024
  • 1 reply
  • 0 views

In 2022, I have a capital loss carryover of $42,356 on my federal return, with a 2022 capital loss of $3000.

Same figures are used for my CA tax returns.

 

In my 2023 CA tax return, turbotax mentioned "You have a capital loss carryover of $42,356 on your federal return" . It asks me to enter the CA capital loss carryover amounts.

Should I be entering  $3000   or   $42,356 for the CA capital loss carryover amounts?

 

I am surprised Turbotax did not import the 2022 CA tax return figures and I have to manually enter this.

 

 

Best answer by mglauner

That's correct, your Federal Capital Loss Carryover is $42,356, less the $3,000 you used in 2022, so $39,356. 

 

Have you already downloaded California program?  Sometime the numbers will fill in after this is completed.

 

You can reference your 2022 California Capital Loss Carryover Worksheet, Line 8 for the amount.

 

Here's more info on California Capital Loss Carryover.

 

1 reply

M
mglaunerAnswer
April 4, 2024

That's correct, your Federal Capital Loss Carryover is $42,356, less the $3,000 you used in 2022, so $39,356. 

 

Have you already downloaded California program?  Sometime the numbers will fill in after this is completed.

 

You can reference your 2022 California Capital Loss Carryover Worksheet, Line 8 for the amount.

 

Here's more info on California Capital Loss Carryover.

 

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