I am working on my CA state return: Rental or Royalty Adjustment. After reviewing the Assets Summary turbotax asked me to Enter Passive and At-Risk Loss Carryovers. When I click on "Forms" it takes me to the Carryovers to 2024 Smart Worksheet. I checked my California worksheet from the prior year and it was blank so that confused me. For my 2024 California tax return I see only this on the worksheet:
Passive Losses Carryover:
G. Schedule E suspended loss:
-4,211 (Regular Tax)
-4,157 (Alternative Minimum Tax)
I'm not sure how to calculate the AMT number, but I'm trying to figure out if at least the Regular Tax number is correct. From my federal Schedule E, my 2023 Operating loss was -4,211. But my total passive carryover loss (including the -4,211) as shown on my federal Carryovers to 2024 Smart Worksheet is:
Passive Loss Carryover:
G. Schedule E suspended loss:
-94,636 (Regular Tax)
-23,748 (QBI)
-58,682 (Alternative Minimum Tax)
Why is the federal worksheet showing total accumulated carryovers while the state worksheet shows only the loss from 2023? Is my state worksheet correct or should I update it to match the numbers from the federal worksheet?
