Is CA capital loss carryover different from federal ?

2 replies
58 views

Moved to CA in early 2019. In my state return I am being asked to enter my California capital loss carryover. I have a capital loss carryover on my federal from last year(from stocks), is this the same number I put down for California? Or does this need to be some type of capital loss specifically in CA?

KarenJ2

Alumni - Intuit

You have to recalculate your California capital loss carryforward if you were a nonresident of California for any years that generated a portion of the loss.

Line 6 – 2018 California Capital Loss Carryover

If you were a resident of California for all prior years, enter your California capital loss carryover from 2018. However, if you were a nonresident of California during any taxable year that generated a portion of your 2018 capital loss carryover, recalculate your 2018 capital loss carryover as if you resided in California for all prior years. Get FTB Pub. 1100, Taxation of Nonresidents and Individuals Who Change Residency, for more information. Enter your California capital loss carryover amount from 2018 on line 6.(From the 2019 California Schedule D Instructions)

2019 California Schedule D Instructions

California FTB Pub 1100

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

atn888

Level 2

All my schedule D loss are in CA. Is the Schedule D schedule loss carryover the same for Fed and CA for tax year 2017? Line 6 on CA schedule D on 2016 form is different than what shown in the QA. See 2016 CA schedule D line 6 below (cut-n-paste)

6 California capital loss carryover from 2015, if any. See instructions.

7 Total 2016 loss. Add line 5 and line 6 .

8 Combine line 4 and line 7. If a loss, go to line 9. If a gain, go to line 10 . .