topic Capital Loss Carryover California in Get your taxes done using TurboTax

Capital Loss Carryover California

shedanhigans — Mon, 23 Feb 2026 12:44:42 GMT

When I submit my Capital Loss Carryover, I see an increase in my federal refund, but no change in my California State refund. Am I doing something wrong? I have $20000 in losses that I have been rolling over for a few years.

Re: Capital Loss Carryover California

MonikaK1 — Sun, 12 Feb 2023 17:05:05 GMT

If you are still working on the Federal return and saw an increased refund from a capital loss carryover but no change to California, it may be because you have no remaining California income or tax liability against which to apply the capital loss carryover. If you are filing a California resident return, the capital loss carryover would apply to your California return to the extent available.

When you've completed the Federal return, complete the California return interview and see if the refund monitor changes.

You can also preview your state return in TurboTax Online by following these steps:

How do view my state return?

Sign in to your TurboTax account.
Click on Tax Home.
Scroll to bottom of page.
Click on Add a State (we're not really going to add anything, we just need to be able to do the next step)
Click on Tax tools (left menu)
Click on Print Center.
Click on Print, save or preview this year's return.

Re: Capital Loss Carryover California

shedanhigans — Sun, 12 Feb 2023 19:41:52 GMT

Thanks for the response. I did preview my state returns and no change occurred. When you say extent available, do you mean state taxes paid? We paid significantly more in state taxes than we received back. The only time I recall the state refund being different was the initial year I claimed the loss, but I was not married at that time. Just making sure I didn't miss something?

Re: Capital Loss Carryover California

shedanhigans — Sun, 12 Feb 2023 19:45:44 GMT

Actually I just figured it out. TurboTax already incorporated the loss in my state taxes. When I go to review the loss, if I delete it in my state returns section, the numbers changed. My apologies for doubting TT :). Thanks!!!