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jwpurnell
New Member

California Capital Gain Adjustment

On my California return, how do I get your system (TurboTax Online)  to make a subtraction adjustment to my federal Capital Gain on Schedule CA (540) line 7, column B, and create the Schedule D (540) for that?

 

The reason for this is that I have a capital gain transaction from a Partnership/LLC  that has a different federal basis and state basis, so I need to make that adjustment on my CA return. I know what needs to happen on the tax forms, but can't find a way in your tool to make that happen.

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1 Reply
rjwpremier
Returning Member

California Capital Gain Adjustment

There is a way to make the adjustment on a Mac in Turbotax Desktop to eliminate the capital gain or loss for Ca state, if that is appropriate for a particular situation. Go to the the California Form D (rather than easy step) and to the left of Sales Price - you will see a little box to click on. Once you do that - the capital gain or loss amount will be deleted from the state return. 

I have not tried it but you might be able to enter a different California basis for Schedule D gains and losses on that same form. 

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