1233050
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

California Capital Loss Carry over

I have $8,958 Capital Loss Carryover from last year. The loss are losses in stocks many years carryover.  My federal form 1040 Line 6 shows -3000 taken from Schedule D. However, I did see Turbo Tax created my D (540) Lines 9, 10, 11 all shows -3000 and Line 12b is 0.

 

Does that mean no deduction from past capital loss to my California income? I also don't see any line on 540 has anything on D(540). 

FYI: I used Turbo Tax to file my federal but I used  CALFILE from  ftb.ca.gov to file my State return for free.  I also used Turbo tax to run my California Tax return for checking

 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
JotikaT2
Employee Tax Expert

California Capital Loss Carry over

The capital loss carryover should have carried over from CA Schedule D to Schedule CA (540), Part1, Section A, line 6, column C as part of the Capital gain or loss line item.  See below for this section.

 

Capital loss on CA return

 

The total amounts then flow into your CA Form 540 under the taxable income section on Page 2 as part of your California adjustments.

 

540 section

 

 

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

California Capital Loss Carry over

TT  shows the same amount in "Carry Over from Previous Year" (Line 6) on my CA state taxes for 2019 and 2020. Both years I had capital gain. So when I am doing my Federal taxes for 2021, TT is asking me to enter Carry Over amount from CA 540 Schedule D of 2020, which I know is not correct. What should I do? 

 

Thanks.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question