topic Non resident California K1 loss after gain last year in State tax filing

Non resident California K1 loss after gain last year

pasknyc — Mon, 23 Feb 2026 10:45:29 GMT

I received a complete loss on a K1 from California. last year I paid $1000+ in capital gain on the same investment.

I have no other income in California. so I have no income to apply the capital loss towards in California.

Can I somehow reverse the gain from last year if this investment is a complete capital loss this year?

Re: Non resident California K1 loss after gain last year

Anonymous_ — Wed, 18 Jan 2023 16:01:02 GMT

You are likely not going to be able to carry back a loss from this tax year to a prior tax year. You can, however, report the loss on your state return which will carry forward to future tax years.

Re: Non resident California K1 loss after gain last year

pasknyc — Wed, 18 Jan 2023 17:23:17 GMT

is there any way to use that loss for other states ? I dont think I’ll have any other income in California in the next 3 years.

Re: Non resident California K1 loss after gain last year

Anonymous_ — Wed, 18 Jan 2023 17:25:57 GMT

@pasknyc wrote:

is there any way to use that loss for other states ?

Unfortunately, there is not unless you can get some sort of credit for the state tax your paid to California last year. Regardless, since you have a loss for 2022, there is really no way to use that loss in another state.