topic 2019 California Capital Gain or Loss Adjustment in State tax filing

2019 California Capital Gain or Loss Adjustment

dham949 — Sun, 12 Apr 2020 23:24:22 GMT

It appears for my 2019 California Capital Gain or Loss Adjustment form, TurboTax is not following the Federal version when transferring the capital gain entries over - rather than using the same entries as the Federal entries, it's rounding for sales price and cost basis which is causing an adjustment of $15 to be generated. I checked my 2018 return and TurboTax did not do this. Is this a bug in the 2019 software?

Re: 2019 California Capital Gain or Loss Adjustment

dnshimmon205 — Sat, 18 Apr 2020 15:00:32 GMT

Carryover from 2018 for Federal taxes is +/- 138000, none of which was generated in California. What do I show on my California return when Turbo tax asks for carryover amount as if I were a nonresident for a full year

Re: 2019 California Capital Gain or Loss Adjustment

qinghongw — Fri, 04 Mar 2022 22:22:34 GMT

Some of my RSU entries shows 0 on "Cost or other bases" (hence a large Gain) even though I entered the values in the interview questions for 1099-B. Federal Form 8949 looks correct, but California 540 D is wrong. Any idea how to get it right?

Re: 2019 California Capital Gain or Loss Adjustment

MarilynG1 — Mon, 07 Mar 2022 21:18:30 GMT

In your Federal 1099-B entry, did you enter a Cost Basis of $0, then enter the 'Corrected Cost Basis'?

If so, the $0 entry generated an incorrect California 540D. Go back to your Federal entry and take out the $0.

Click this link for more info on Incorrect Cost Basis on CA 540D.