hi ... i'll use round numbers to make things easy ...
i entered 2024 with a CLC of $700 on my federal return ...
i had a long-term capital gain of $300 in 2024 ...
tax software applied my $700 CLC to my $300 long-term gain and
i ended up with a $400 loss for 2024 and no CLC for 2025 ... makes sense
on my state return (california) i entered 2024 with a CLC of $1000 ...
tax software applied my $1000 CLC to my $300 gain and i ended
up with ZERO gain for 2024 and a $700 state CLC for 2025 ...
here's the rub ... i wasted $300 of my california CLC because i didn't owe
any taxes (either with or without the capital gain) ... so why does the
tax software force you to use a portion of your CLC when doing so results
in NO benefit to the taxpayer ...
i feel like i justed wasted $300 of my CLC for nothing ...
thanks !
