Question

How do I get turbotax to deduct my capital losses from capital gains for NJ state return?

Forum|Forum|1 year ago
March 27, 2025
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What kind of losses do you have? Investment sales from your federal tax return are transferred to Schedule NJ-DOP. Losses are subtracted from gains on that schedule. If your total losses are greater than your gains, the net amount will be zero because you cannot claim a loss on the New Jersey tax return.

There is no capital loss carryover on the New Jersey tax return. If you have a capital loss carryover on your federal tax return, it does not transfer to the New Jersey tax return.