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Get your taxes done using TurboTax
It's not actually reported on a line in your 2020 return.
The 2020 Capital Loss Carryover to 2021 is computed using the California Capital Loss Carryover Worksheet in the 2020 Instructions for California Schedule D (540).
You compute your carryover to 2021 by calculating the:
- Loss from Schedule D (540), line 11, stated as a positive number.
- Amount from Form 540, line 17.
- Amount from Form 540, line 18.
- Subtract line 3 from line 2. If less than zero, enter as a negative amount.
- Combine line 1 and line 4. If less than zero, enter -0-.
- Loss from Schedule D (540), line 8.
- Enter the smaller of line 1 or line 5.
- Subtract line 7 from line 6. This is your capital loss carryover to 2021.
‎April 5, 2022
12:27 PM