Is the California Investment Expense subject to the 2% limitation as is the Federal deduction?

[njnickyjohnson]

My Federal investment expenses were limited by the 2% requirement. Is the California investment expenses limited also?

[TerryA · Accepted solution]

Yes, Calif has the same 2% limitation for certain itemized deductions. You can see that happening on the Calif 3526 Worksheet, line 14a.