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North Carolina State Tax Capital Losses deduction
Hi there,
I filed my 2021 tax return using TurboTax desktop version. For the state of North Carolina, TurboTax deducted my full capital losses from my total income while the federal return for which the capital losses is capped at $3000. However, I got a notice from the revenue department that they adjusted the capital losses to $3000. I understand TurboTax guaranteed the accuracy, and I could not find the tax code of North Carolina on that matter. I am wondering if a tax expert of TurboTax can point me the direction of its treatment. Or anybody who has the knowledge or experience on this matter can offer me some help. I really appreciate!
