Hello,
I had a capital loss in 2022 and a Capital gain in 2023. I was able to find the numbers for the Federal Capital loss carryover from Form Section D, but finding difficult to find the Capital loss carryover for State (California) form 540NR. I have 2022 tax return documents, Please help me find the Capital loss carryover for the State (California) calculation.
If you used TurboTax last year, the loss for California is listed on your California Schedule D line 6.
If you did not use TurboTax, you will need to calculate the loss to carryover.
Please look at last year's California CA Schedule D. If line 11 shows a gain, there is no loss to carryforward.
If there is a loss on line 11, use the following calculation from the California worksheet:
You compute your carryover to 2023 by calculating the numbers from your 2022 CA Schedule D:
If you used TurboTax last year, the loss for California is listed on your California Schedule D line 6.
If you did not use TurboTax, you will need to calculate the loss to carryover.
Please look at last year's California CA Schedule D. If line 11 shows a gain, there is no loss to carryforward.
If there is a loss on line 11, use the following calculation from the California worksheet:
You compute your carryover to 2023 by calculating the numbers from your 2022 CA Schedule D: