Investors & landlords

It depends. If your California capital losses were the same as your Federal capital losses, your California return may not contain a California Schedule D, and the carryover amount to 2024 would be the same as on your Federal return. If your 2024 California return includes a Schedule D, check for an entry in Line 6 for "California capital loss carryover from 2022, if any". 

If you prepared your 2023 return in TurboTax, and there was a Schedule D for California, the amount to be carried over to 2024 can also be calculated in a "worksheet" in the Instructions for California Schedule D. Near the end of the instructions is the "worksheet" for capital loss carryovers (the worksheet is the same for 2024):

California Capital Loss Carryover Worksheet

1. Enter loss from Schedule D (540), line 11, as a positive number.
2. Enter amount from Form 540, line 17.
3. Enter amount from Form 540, line 18.
4. Subtract line 3 from line 2. If less than zero, enter as a negative number.
5. Combine line 1 and line 4. If less than zero, enter -0-
6. Enter 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 2024.

California also allows capital loss carryovers. However, unlike the federal government, California makes no distinction between short-term and long-term capital gains. It taxes all capital gains as income, using the same rates and brackets as the regular state income tax.

When you prepare the California return in TurboTax, at the screen "Here's the income that California treats differently", under Investments, you can click on the item "Capital Loss Carryover from Last Year" and make any needed adjustments.