Do you have one, two, three or more homes?
If you sold any of those, that's what is referred to.
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!
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".
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.
stocks and similar are "investment securities". land with/without a home is real property. aka real estate.
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".