MonikaK1
Expert Alumni

State tax filing

If you reviewed the examples given of the California differences, those are the only ones TurboTax expects any users to encounter and, as you stated, you should be "good to go".

 

When California conforms to federal tax law changes, they do not always adopt all of the changes made at the federal level. For more information, go to ftb.ca.gov and search for conformity. This will bring up a list of every law where there is a difference.

 

Here are the actual instructions for the Carryover Worksheet from the FTB's instructions for California Schedule D for 2022:

 

California Capital Loss Carryover Worksheet

  1. Loss from Schedule D (540), line 11, stated as a positive number.
  2. Amount from Form 540, line 17.
  3. Amount from Form 540, line 18.
  4. Subtract line 3 from line 2. If less than zero, enter as a negative amount.
  5. Combine line 1 and line 4. If less than zero, enter -0-
  6. Loss from Schedule D (540), line 8 as a positive number.
  7. Enter the smaller of line 1 or line 5.
  8. Subtract line 7 from line 6. This is your capital loss carryover to 2023.

 

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