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Anonymous
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Non Resident California tax on gains from CA property sell with federal CG suspended loss

Like to understand CA tax from CA property sale (held > 1 year) with gains. I am WA state resident so will file CA NR return.

 

I have enough CG suspended loss (loss harvesting from stock market, not CA specific) to eliminate 100% of the LTCG gains from the property sale on federal tax. However, for CA NR tax, I believe the gains are taxable as the CG suspended losses were not the result of any CA source loss.

 

Is this understanding correct?

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Anonymous
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Non Resident California tax on gains from CA property sell with federal CG suspended loss

Chatted with CA FTB tax support and they confirmed this is the correct understanding.

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