In TurboTax 2023 I have imported my brokerage information. I have a large long term capital loss carrying over.
Last year I had a short term capital gain which was much smaller than the long term capital loss.
The Federal tax amount on my return (as expected) remained unchanged, with the loss offsetting the gains.
On the State tax amount, however, it seems to be ignoring any capital loss carryover so I am being taxed on the gains.
Should not the long term capital loss be in effect on the State Taxes as well as the Federal? ie. There should be no taxes as the long term capital loss should offset the gains at both the State and Federal level.
The state is California.
