How to calculate Capital loss carryover for State (California) form 540?

ragavi98 · Apr 11, 2024 2:03:47 PM

<OL><LI>Loss from Schedule D (540), line 11, stated as a positive number. (-1 on my form) if I convert this to a positive number it is 1. </LI><LI>Amount from Form 540, line 17. (130,000)</LI><LI>Amount from Form 540, line 18. (5000)</LI><LI>Subtract line 3 from line 2. If less than zero, enter as a negative amount. (125000)</LI><LI>Combine line 1 and line 4. If less than zero, enter -0-. (125001)</LI><LI>Loss from Schedule D (540), line 8. -1</LI><LI>Enter the smaller of line 1 or line 5. 1</LI><LI>Subtract line 7 from line 6. This is your capital loss carryover to 2023. (-1-1= ) -2 Is my capital loss carryover -2? </LI></OL>

Loss from Schedule D (540), line 11, stated as a positive number. (-1 on my form) if I convert this to a positive number it is 1.
Amount from Form 540, line 17. (130,000)
Amount from Form 540, line 18. (5000)
Subtract line 3 from line 2. If less than zero, enter as a negative amount. (125000)
Combine line 1 and line 4. If less than zero, enter -0-. (125001)
Loss from Schedule D (540), line 8. -1
Enter the smaller of line 1 or line 5. 1
Subtract line 7 from line 6. This is your capital loss carryover to 2023. (-1-1= ) -2

Is my capital loss carryover -2?