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February 26, 2025
Question

Capital Loss Carryover from 2023 to 2024 return for California

  • February 26, 2025
  • 0 replies
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I lived in Texas until November of 2024 and moved to California. I have used TurboTax for a long time now. However, I can not find out how to "Enter the California Capital Carry Over Amount" for the field for 'Capital Loss Carry Over' and 'AMT Capital Loss Carry Over'. I can not find a direct link to a form I can fill out. Please help. I believe there is a California Capital Loss Carry Over Worksheet? Is that the correct one.

 

It seems I may have to fill out form 540 or 540NR (please help specify which one should fill out and if necessary) to fill out that worksheet. However, 540 requires me to look at my federal 1040 which I can not yet look at through Turbo Tax, as I can w 2023 and previous, wo completing the entire return including this state section. 

 

It seems strange for me to have to fill out a federal 1040 and then a CA 540 to be able to fill out the California Capital Loss Carry Over Worksheet. If that is the case then I should not use Turbo and and just turn in said forms. Hopefully I am wrong, and this is easier than the rabbit hole I am in. 

 

Please assist and thank you.