Does an investment capital asset located in a nonresident state sold at a loss also get reported the same in my resident state? I am a resident of California and sold land in Hawaii. Both the California (resident) and Hawaii (nonresident) tax returns are showing the longterm capital loss and a loss carryforward amount. Is this correct? I don't expect to have any future transactions in Hawaii and therefore won't be able to apply the carryforward loss to any future Hawaii capital gains, but will the California carryforward balance be available to apply to future California capital gains?
