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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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?
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.
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:
TurboTax Desktop/Download Versions:
*(If using a MAC, go to the menu at the top of the screen, select Help, then, “Send Tax File to Agent”)
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