California Capital Loss Carryover Categories Unclear Why Split Between "Regular Tax" and "AMT" when my Fed Capital Loss Carryover is Just one number.

[zenmster]

I'm hoping someone can help with this. because I've been (my bad) blindly using turbo tax and I never manually separated out my CA capital loss carryover between "Regular Tax" and "AMT" - this time though TT told me I had to enter an actual number for my CA capital loss carryover - unlike my Fed part - TT did not automatically enter/calc this (CA) number for me.  I hope someone can help otherwise I'm thinking I'll just make my CA number = Fed number and not worry about my previous years where it was broken out for my CA return. 

😮

[TerryA · Accepted solution]

Sometimes the year-to-year transfer doesn't work for every field from the prior year. Sounds like your California capital loss carryover from 2016 didn't land in your 2017 return. If you have your 2016 Calif return the carryover to 2017 is on the (TurboTax) California Capital Loss Carryover Worksheet, line 8.

If you don't already know what your AMT capital loss carryover amount is then just use the same $$ as regular tax.

[zenmster]

Thanks for the 411- so my newly realized problem is that I’ve been applying only the “Regular Tax” CA cap loss value since 2013- what I think I need to do (?) is add the “Reg Tax” + “AMT” and use that number in my 2017 TT entry - that would match up closer w the Fed cap loss number.

If that’s true then do I have to submit amended returns going back to 2013 tax year?  Best

[TerryA]

You can't add "Reg tax" + "AMT" loss carryovers together: they are different calculations for the *same* disposition events and are very often the same number unless you have such things as different depreciation on business/rental assets between regular tax and AMT depreciation.
The AMT capital loss carryover is used only when computing alternative minimum taxable income. If you haven't been subject to Calif AMT in the past then it's moot if you didn't have an amount there in previous years.