I just found out that since 2009, the capital loss carryover is missing in my California tax return. My Federal tax return has the carryover every year. So, I need to amend CA return since 2009. I'm wondering whether the following steps are correct before I start working on it.
1. Amend 2009 CA return.
2. If there is a refund difference, then I need to amend 2010 Fed tax return.
3. Repeat 1 and 2 until last year filed.
If I have to do #2, do I need to wait for the refund or just assume there is a refund and keep going through each year?
First, there is a look back provision in California.
California specifies that a claim for refund or credit must be filed no later than (a) four years from the original due date of the return or (b) four years from the date the return is filed if the return was filed within the "automatic extension" period. Additionally, a claim for refund or credit is timely with respect to payments made within one year of the claim filing date (the "look back" provision).
Your process looks good but you would need to start with your 2014 tax return.
I read conflicted info on this - that I have to start from the beginning and in this case it is 2009. Anyways, based on your answer and for completeness, I can start from 2009 and since there is no refund per look back provision, I don't have to amend Fed return until 2015. Please confirm.
Also since I assume I won't be getting 1099-R from CA state until beginning of 2020 for those amended returns, do I need to amend Fed return?