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L
labrador2011
March 28, 2024
Question

In 2021, I sold stocks at a loss in California before moving to another state by end of 2021. I still own a rental property in California that generates $10000 in income

  • March 28, 2024
  • 1 reply
  • 0 views
On my California return can I deduct the allowed $3000 loss from stock against the $10000 income. 
I don't deduct it from another state as I live in a state that has no state tax

1 reply

M
mglauner
March 29, 2024

Your $3,000 Capital Loss Carryover will reduce your income on your Federal return, which in turn reduces your California income.

 

Here's How to Enter a Capital Loss Carryover. 

 

For California, here's instructions on How to Enter Gain/Loss Adjustments. 

 

Here's more info on Capital Loss Carryovers in California.

 

 

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