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dham949
Returning Member

2019 California Capital Gain or Loss Adjustment

It appears for my 2019 California Capital Gain or Loss Adjustment form, TurboTax is not following the Federal version when transferring the capital gain entries over - rather than using the same entries as the Federal entries, it's rounding for sales price and cost basis which is causing an adjustment of $15 to be generated.   I checked my 2018 return and TurboTax did not do this.   Is this a bug in the 2019 software? 

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3 Replies

2019 California Capital Gain or Loss Adjustment

Carryover from 2018 for Federal taxes is +/- 138000, none of which was generated in California. What do I show on my California return when Turbo tax asks for carryover amount as if I were a nonresident for a full year

qinghongw
Returning Member

2019 California Capital Gain or Loss Adjustment

Some of my RSU entries shows 0 on "Cost or other bases" (hence a large Gain) even though I entered the values in the interview questions for 1099-B. Federal Form 8949 looks correct, but California 540 D is wrong. Any idea how to get it right?

 

MarilynG1
Expert Alumni

2019 California Capital Gain or Loss Adjustment

In your Federal 1099-B entry, did you enter a Cost Basis of $0, then enter the 'Corrected Cost Basis'? 

 

If so, the $0 entry generated an incorrect California 540D.  Go back to your Federal entry and take out the $0.

 

Click this link for more info on Incorrect Cost Basis on CA 540D.

 

 

 

 

 

 

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