Get your taxes done using TurboTax
California is a state that does not abide by federal tax treaties. According to the California State Franchise Tax Board (FTB), your RRSP is…well…more like a savings account. Translation – the income and capital gains are taxable in the year earned and not received. Now the dilemma is how to report it.
You would need to report this directly on Form Schedule CA ADJ. If you are using the online version of Turbo Tax, this will not work. You will need the software version. Once you recorded the unrealized capital gain information, then this will flow to Sch CA (540R). My Ca view does not contain the form as listed in your example above but you may try placing this amount in line 21B. Just as long as it gets reported. Meanwhile, here is a screenshot of my program and where i would list it if I had the same reporting requirement.
