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dianecty
New Member

In which line in the 2019 Sched D 540 California am I supposed to get the California Capital Loss Carryover for 2020? If not in the 2019 Sched D, where should I get it?

 
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4 Replies

In which line in the 2019 Sched D 540 California am I supposed to get the California Capital Loss Carryover for 2020? If not in the 2019 Sched D, where should I get it?

It's not actually reported on a line in your 2019 return.

The 2019 Capital Loss Carryover to 2020 is computed using a worksheet in the 2019 Instructions for California Schedule D (540), California Capital Gain or Loss Adjustment

According to California Capital Loss Carryover Worksheet, you compute your carryover to 2020 by calculating the:

  1. Loss from Schedule D (540), line 11, stated as a positive number.
  2. Amount from Form 540, line 17.
  3. Amount from Form 540, line 18.
  4. Subtract line 3 from line 2. If less than zero, enter as a negative amount.
  5. Combine line 1 and line 4. If less than zero, enter -0-
  6. Loss from Schedule D (540), line 8.
  7. Enter the smaller of line 1 or line 5.
  8. Subtract line 7 from line 6. This is your capital loss carryover to 2020.

In which line in the 2019 Sched D 540 California am I supposed to get the California Capital Loss Carryover for 2020? If not in the 2019 Sched D, where should I get it?

So can you update this to Tax Year 2021? I'm using TT2021. 

 

The top of the page states:
"Let's get some info from your 2020 tax return"

At the bottom of the page it states:

"Now look at your California Form 540, Schedule D and enter your capital loss carryover, if any, as a positive amount."

 

Can you tell me which line from California Form 540, Schedule D I should use? Thanks!

 
 
 

 

 
 
 

 

FangxiaL
Expert Alumni

In which line in the 2019 Sched D 540 California am I supposed to get the California Capital Loss Carryover for 2020? If not in the 2019 Sched D, where should I get it?

Line 6 on Schedule D form shows the amount of California capital loss carryover from a prior year.

 

@Venzyle

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In which line in the 2019 Sched D 540 California am I supposed to get the California Capital Loss Carryover for 2020? If not in the 2019 Sched D, where should I get it?

Thank you so much!

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