ThomasM125
Expert Alumni

State tax filing

TurboTax should carry your losses over automatically, but sometimes the program will ask you to check on things like that for a variety of reasons.

 

California Schedule D is used to reconcile captital gains and losses reported on your federal tax return with those allowable in California. If you had more losses than were allowed, you would have a carryover to the next year. You would have a California Schedule D if you had capital losses in 2021, so if you don't have that form it may mean you don't have a loss carryover. I suggest you look on your federal Schedule D and see if there is a loss on line 21. If the amount on line 21 is a loss of $3,000, that means you are deducting the total capital loss alllowed for the year of $3,000, so you probably have a loss carryover that you weren't able to use in that year.

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