Do I put the Federal Capital Loss Carryover amount in for state tax also?

Forum|Forum|3 years ago
April 7, 2023
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I moved to Idaho in 2022. TurboTax Premier online is asking on Idaho State tax for Capital Gain (Loss) and showing the amount of -$3,000 in the Federal Capital Gain (Loss) box as a reference. This is the same amount that is shown as a Capital Loss Carryover used in 2022. I don't really understand this but how does this apply to the Idaho state tax question here? Do I put the loss in for Idaho or would they say, "Hey, wait a minute, you just got here?!?"

I hear that if it's a carryover then I just enter zero for Idaho otherwise, I would enter actual capital losses during 2022. Yet, I also hear Idaho conforms to the federal tax laws with respect to capital gain and loss reporting. This means that if you have a capital loss carryover from federal taxes, you can also use it as a capital loss deduction on your Idaho state tax return, subject to certain limitations and restrictions. Can anyone confirm? Thanks for any help. @HelenC12 has great state tax content.

DianeW777

Since all of the loss occurred before moving to Idaho, then it seems none of the loss will be allowed.

Idaho (ID) Instructions-form 39R:

Line 2 Capital Loss Carryover If you claimed a capital loss or carryover from activities not taxable by Idaho or before you became an Idaho resident, enter the amount used in calculating your net capital gain or loss reported on your federal Schedule D. Use the worksheet below to calculate your Idaho capital gain (loss) and capital loss carryover.
Use the worksheet on page 27 to determine the amount, if any, would be allowed on your ID return for 2022. This will provide the amount to enter in TurboTax.

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