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California state: Capitol loss Carryover

Hi,

 

On my California state section for 2023, it says below.

 

 

turbotax 1.png

 

My question is, do I just put whatever the capital loss carryover on the federal return to this first box, "Capital Loss Carryover"?  For the second box, I don't have those special circumstances mentioned so I think it will be the same value as first box.  Please confirm.  More info below.

 

From my 2022 tax return, the capital loss comes from:

Account 1:

Box B, Short term sales with cost basis NOT reported to the IRS, negative xxx amount.

Account 2:

Box A, Short term sales with cost basis reported to the IRS, negative yyy amount.

Box D, Long term sales with cost basis reported to the IRS, negative zzz amount.

 

Thank you!

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1 Reply
RobertB4444
Expert Alumni

California state: Capitol loss Carryover

California rules tell you to enter the capital loss as if you were a California resident.  If you were a resident last year and this year and used TurboTax both years then your federal loss has already been carried over for California and you can leave these boxes blank and move on.  If you were not a California resident last year then just copy your federal loss into these boxes.

 

@taxsoftwaresuperuser 

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