For California income tax, what is "net gains from property not held for investment"?

[fanfare]

Do you have one, two, three or more homes?

If you sold any of those, that's what is referred to.

[AWal]

Hmm, I have this same issue. Doing my CA taxes and it says "Gain from property  not held for investment. You have a net gain in the amount of $1,229  reported on your federal return." I own one home but did not buy or sell any property this year. I am not sure if I made a mistake in my federal return. Do you know where this section would be in my federal return so I can troubleshoot? Thanks!

[kthxbye]

I am pretty sure that this item actually refers to your investments, like stocks, not homes. In this context, stocks and similar investments are called "investment properties".

[VictoriaD75]

Correct. Any gains reported on Schedule D and Form 8949 will carry to the state return. This includes stocks or other properties reported as a sale for gain or loss.

[fanfare]

stocks and similar are "investment securities". land with/without a home is real property. aka real estate.

[fat-tax]

Victoria and Turbotax both seem to be referring to stocks as property, which I think is confusing people. While legally in some cases stocks can be interpreted as intangible property, most people understand a stock as a share of ownership in a corporation or other appropriate entity, rather than "property".

[ahfei]

Does anyone know how the system calculates this number? My california net gain is significantly higher than the actual gain I made or is showing in my Federal return, and I'm having trouble understanding how the system calculated this.