In 2021, I sold stocks at a loss in California before moving to another state by end of 2021. I still own a rental property in California that generates $10000 in income
On my California return can I deduct the allowed $3000 loss from stock against the $10000 income. I don't deduct it from another state as I live in a state that has no state tax
011723
1 Replies
MarilynG1
Expert Alumni
Mar 28, 2024 6:47:48 PM
Your $3,000 Capital Loss Carryover will reduce your income on your Federal return, which in turn reduces your California income.