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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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3 Replies
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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Major error in California cap gains treatment

Has this error been fixed?  I am experiencing it for 2024.  The gain shows in Line 7, Column D but is not shown in Line 7, Column E on the California Income Adjustment Schedule.  

LenaH
Employee Tax Expert

Major error in California cap gains treatment

I would like to take a deeper look at this. However, I need a diagnostic file which is a copy of your tax return that has all of your personal information removed. You can send one to us by following the directions below:

 

TurboTax Online:

  1. Sign into your online account.
  2. Locate the Tax Tools on the left-hand side of the screen.
  3. A drop-down will appear. Select Tools
  4. On the pop-up screen, click on “Share my file with agent.”
  5. This will generate a message that a diagnostic file gets sanitized and transmitted to us.
  6. Please provide the Token Number that was generated in the response.

TurboTax Desktop/Download Versions:

  1. Open your return.
  2. Click the Online tab in the black bar across the top of TurboTax and select “Send Tax File to Agent” *
  3. This will generate a message that a diagnostic copy will be created.  Click on OK and the tax file will be sanitized and transmitted to us.
  4. Please provide the Token Number (including the dash) that was generated in the response.

*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)


 @user17525927639 

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