Why NJ state is showing a positive capital gain while I have capital losses more than 3K?

[anantharam1991]

Federal and NY state (non resident) returns are showing the proper capital losses but not NJ.

[ErnieS0 · Accepted solution]

You may have a capital loss carryforward or the gain/losses for New York and New Jersey are different.

New Jersey does not allow for capital loss carryforwards. If your federal and New York capital losses were due to carry forwards from 2021, that may be why you are showing a gain for NJ.

See Tax Champ Mike9241’s answer in “Why NJ does not consider carryover capital loss from the prior year's?”

You don’t say what state you were a resident of — or if you were a part-year resident. In either case, you may have NY or NJ-specific gains or losses.

[anantharam1991]

I am NJ resident and all the capital losses are for 2022. There are no carry forward capital losses.