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schwarcz
Returning Member

Major error in California cap gains treatment

In the California return, Turbotax automatically subtracts the full amount of Federal capital gains by entering the full amount in column B (Subtractions) line 6 on Schedule CA (540)

 

THIS IS WRONG.

 

It results in claiming that none of your capital gains is taxable in California even thought California treatment of cap gains is the same as Federal.  If I had submitted it, I surely would have been audit bait.

 

As far as I can tel from the Turbotax about dialog box, the state version  (S2019ZCA) is 2019.95.0

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1 Reply
ThomasM125
Expert Alumni

Major error in California cap gains treatment

Line 6 of California schedule D is the capital loss carryover from the previous year for California. Are you sure you didn't have a capital loss carryover from the previous year?

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