Deductions & credits

If you used TurboTax last year, the loss for California is listed on your California Schedule D line 6.

If you did not use TurboTax, you will need to calculate the loss to carryover. 

Please look at last year's California CA Schedule D. If line 11 shows a gain, there is no loss to carryforward.

If there is a loss on line 11, use the following calculation from the California worksheet:

You compute your carryover to 2023 by calculating the numbers from your 2022 CA Schedule D:

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.
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