Moved to CA: What to use for California capital loss carryover?

[jimmyz80]

I grew up in CA and moved away to NC in 2010.  I filed a partial year CA return when I moved away, and did not have any capital loss carryover since I wasn't into investing at the time.  In 2019 I moved back to CA, and on my federal return from 2018 I have a significant capital loss carryover.

When I work on the 2019 CA state return now, it asks me to enter my California capital loss carryover.  Do I just plug in the loss carryover from my 2018 federal return?  I've reviewed all of the CA form 540 instructions on this topic, and they just confuse me even more.  The losses were all from stock sales, not from anything that involved depreciation.

Thanks!

[MaryK4]

No, you do not want to use the capital loss carryover for California since you were not a resident at the time of the loss.  Just as it would not be CA income from 2018, the loss applies the same.

[abg123]

I have a similar scenario. Just to confirm, you're saying that if I'm a new part-year resident for 2021 (we moved to CA during 2021) and I have a capital loss carryover that was from prior to the move (before I was ever a CA resident), the amount to list for the CA state return for capital loss carryover would be '0', correct?

[MarilynG1]

Correct. Click this link for more info on filing a Part-Year Resident Return. 

Here's more info on California Capital Loss Carryovers.