Question

turbotax never changes California capital loss carryover amount?

Forum|Forum|3 years ago
July 24, 2022
1 reply
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When i review the previous returns i found out the california captical loss carryover amount had never got changes (remains same amount as initial loss amount, say $20,000). does this mean turbotax will not automatically calculate capitcal loss carryover amount for you, but we had to calculate ourselves then enter into CA return manually?

Critter-3

If your income is low enough that the loss allowed makes no difference to the return then the entire loss is carried forward automatically until it can be useful.

T

tututuAuthor

@Critter-3 @Thank you, but the problem is from Federal calculation, I see turbo tax calculate correctly to offset capital gain and using allowances. However the state carry over is never changes with Federal, even federal used up carryover to 0, TT still automatically input initial capital loss there. Does this a TT error that we need to correct by inputting The same amount in federal calculation?