In the TurboTax Premier 2023 Desktop there is a new dialogue part of the "Investment Income-Capital Loss Carryover" section. This new dialogue is asking for past information from older tax forms 2021 and 2022 to see if some older TurboTax imports of the capital loss carryover from past years were done correctly or not.
First window asks about information from "2021 Schedule D used for AMT":
1) adjusted short-term gains and losses, from Form 2021 Schedule D for AMT, line 7
2) adjusted long-term gains and losses, from Form 2021 Schedule D for AMT, line 15
Then the next page shifts to new questions from the 2022 tax return where it is asking more new questions about transferred capital loss carryover info from 2022 return:
3) Net short-term capital Gain or Loss (Schedule D, line 7)
4) Net long-term capital Gain or Loss (Schedule D, line 15)
5) Allowable loss (schedule D, line 21)
6) Taxable Income (form 1040, line 15)
All the above questions (1 to 6) are clearly marked and fairly easy to answer if you have the old TurboTax files and programs to generate the forms and search for these answers.
What however is not so clear is the next and last question on this page, what I would call question number 7) that is: "Now look at your California Form 540, Schedule D and enter your capital loss carryover, if any, as a positive amount".
The CA form 540 schedule D has on line 6 "California capital loss carryover from 2021, if any. See instructions" -- is this the value asked about? In another form called "California Capital loss carryover worksheet", line 8, there is a line called "capital loss carryover to 2023" - or it this one?
Which of the two is the correct answer to what I called above question 7)?
Thank you!
