Restating federal capital losses after to CA

[00p299]

Hi all, I moved to CA mid 2023 from a state without income taxes.. lets say I have a federal capital loss carryover of 10k

Under my state tax form, TT is asking for Capital Loss Carryover from Last Year. Last year meaning capital losses if I were a resident of CA and filed a tax return? So this number would be 0.. and I would later restate my losses as if I were a CA resident?

How and when would I restate my federal capital loss as if I were a CA resident? In my 2024 tax return?

[Bsch4477]

Your capital loss is treated as if you were a California resident the prior years. 

[00p299]

Okay, so for my 2023 tax return, I should just copy paste my federal capital loss carryover amount  into the state tax form asking for "capital loss carryover from last year"?

[Bsch4477]

Your California return tax calculation begins with your federal AGI which in turn includes your capital loss. So unless the state and federal losses were different you shouldn’t have to do anything. 

[00p299]

So when I arrive to this page, the boxes are empty.

Do I leave it as is, or do I input my capital loss carryover from my 2022 federal return in both fields?

I'm not sure what the difference is between capital loss and AMT capital loss..

Any help is appreciated. I figured if they had to be filled, TT would automatically input my federal amount there.

[Bsch4477]

If you used TurboTax for 2022 and carried your data over to 2023 the program should have handled that automatically. Look at Sch D line 14. If the carry over loss is there, the loss is already incorporated into your CA tax calculation and you can ignore the  screen shown. 

[00p299]

Yes, I used TT in the prior years and they have all my information.

I believe that is why the image I provided is showing a number (the capital loss carryover from 2022). But I'm not sure what to do with that number.

Sch D line 14 for which year?

[DaveF1006]

This would be referring to 2022 Federal Schedule D line 14. If the number is the same as the number reported in your screenshot, you may either leave that field blank as Bsch4477 mentions or report the same number in both blank spaces shown above, if you receive an error message regarding this entry.

@00p299 

[00p299]

@DaveF1006 I checked my Sch D form... line 14 is empty.

Lines 7 and 15 are added up in line 16, and equal an amount to roughly a loss of $(11,000) ~...

7 Net short-term capital gain or (loss). Combine lines 1a through 6 in column (h). If you have any longterm capital gains or losses, go to Part II below. Otherwise, go to Part III on the back .

15 Net long-term capital gain or (loss). Combine lines 8a through 14 in column (h). Then, go to Part III
on the back

16 Combine lines 7 and 15 and enter the result

Lines 21 is where I see the max allowed deduction of $(3,000). If I take line 16 and subtract 3,000, it equals to that $(11,000)~ amount in the screenshot below.

Should I be leaving this section blank then if line 14 is empty?

[DaveF1006]

Yes.  Leave it blank if it is empty.

[00p299]

Thanks! What does that line 14 number represent?

I want to know how I can restate my capital losses as if I were a CA resident.

The FTB website states something about restating those losses, but I can't seem to find where that is done.