It depends. The carryover losses are allowed regardless of short term or long term and will offset any capital gains in the current tax year or increase any capital loss carryover. Enter your carryover loss in your Hawaii (HI) return. It's always important to check the carryover because TurboTax may not know if you changed a prior year return (federal and state).
The short term capital loss carryover from 2023 can be used to offset the long term capital gain in 2024.
Typically, the short term capital loss carryover would be used to offset the short term capital gains, and the long term capital loss carryover would be used to offset the long term capital gains in a current year.
However, when there is only one type of capital loss being carried over, it can be used to offset the current year capital gain regardless of it is for a short term or long term capital loss.
For Hawaii (HI) the answer assumes the losses carried over and occurred from a residency period.
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