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Level 1

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

 
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Level 1

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

This is a little complicated. There is a California Capital Loss Carryover Worksheet which you may or may not have in your 2017 return. If you do not have it, you can easily complete it if you have your California Schedule D and your California 540. Line 8 is what you are seeking.

California Capital Loss Carryover Worksheet

  1. Loss from Schedule D (540), line 11, stated as a

    positive number. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 _________

  2. Amount from Form 540, line 17 . . . . . . . . . . . . . . . . . 2 _________

  3. Amount from Form 540, line 18 . . . . . . . . . . . . . . . . . 3 _________

  4. Subtract line 3 from line 2. If less than zero, enter

    as a negative amount. . . . . . . . . . . . . . . . . . . . . . . . . . 4 _________

  5. Combine line 1 and line 4. If less than zero,
    enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 _________

  6. Loss from Schedule D (540), line 8. . . . . . . . . . . . . . . 6 _________

  7. Enter the smaller of line 1 or line 5 . . . . . . . . . . . . . . . 7 _________

  8. Subtract line 7 from line 6. This is your capital loss

    carryover to 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 _______

5 Replies
Level 1

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

As I don't have a California Capital Loss Carryover Worksheet, I need to use the second method. Except I also do not have a California Schedule D, only a Federal Schedule D under the Form 1040. Is there a different name the California Schedule D could go by?
Level 1

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

This is a little complicated. There is a California Capital Loss Carryover Worksheet which you may or may not have in your 2017 return. If you do not have it, you can easily complete it if you have your California Schedule D and your California 540. Line 8 is what you are seeking.

California Capital Loss Carryover Worksheet

  1. Loss from Schedule D (540), line 11, stated as a

    positive number. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 _________

  2. Amount from Form 540, line 17 . . . . . . . . . . . . . . . . . 2 _________

  3. Amount from Form 540, line 18 . . . . . . . . . . . . . . . . . 3 _________

  4. Subtract line 3 from line 2. If less than zero, enter

    as a negative amount. . . . . . . . . . . . . . . . . . . . . . . . . . 4 _________

  5. Combine line 1 and line 4. If less than zero,
    enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 _________

  6. Loss from Schedule D (540), line 8. . . . . . . . . . . . . . . 6 _________

  7. Enter the smaller of line 1 or line 5 . . . . . . . . . . . . . . . 7 _________

  8. Subtract line 7 from line 6. This is your capital loss

    carryover to 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 _______

Level 2

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

I noticed that 2017 turbo tax software actually automatically picked up the loss carryforward bal from Line 6 of prior year California Capital Loss Carryover Worksheet after transferred data from 2016 tax return. My line 7 has a bal. of $3000.
Could you help to explain what is the reason the software picked up Line 6 instead of Line 8 balance?
Level 5

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

Your calculation presentation was very helpful.   Can you tell me if the line 8 carryover which follows 3805V calculation as well, is supposed to be entered as a positive or negative on the carryover worksheet Line 13 NOL carryover from 2017? It is another instance where the form does not state to enter as a positive or negative. When I enter as a positive, all calculations look correct. When I enter as a negative, I get a warning and highlighted in yellow.  Thanks.

Level 5

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

Do you have a formula for calculating NOL carryover from 2017 to 2018?  I tried using 1045A schedule A and Publication 536 worksheets, but those are not solving my issue.  I use form 3805V which is straightforward on taking AGI 540 line 17 and deducting CA Itemized deductions all other fields end up as zero. The final line 28 shows the NOL carryover. But I cannot seem to calculate NOL for federal.


Does intuit have a list of local CPAs that can help in person?