Capital Gains Allocation for partial year state in Connecticut

We moved to CT from MA this year. I've divided the Cap Gains to before and after the move. Our total gains were 1,725. The before the move gain was 7,142. After the move we had a -5,417 loss. TurboTax flags the -5,417 as an error saying it's too small. I fiddled with the number and found the any number lower that -3,000 generates the error. I've not been able to find any info on why a loss of more than -3,000 is an error.

Any thoughts are appreciated

posted

Connect with an expert

1 Best answer

Accepted Solutions

Capital Gains Allocation for partial year state in Connecticut

Connecticut follows the federal treatment of capital losses, so the limit for long term losses is $3000 per year.

See Federal and State Taxes on Capital Gains.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply

Capital Gains Allocation for partial year state in Connecticut

Connecticut follows the federal treatment of capital losses, so the limit for long term losses is $3000 per year.

See Federal and State Taxes on Capital Gains.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post