Question
Non Resident California tax on gains from CA property sell with federal CG suspended loss
Like to understand CA tax from CA property sale (held > 1 year) with gains. I am WA state resident so will file CA NR return.
I have enough CG suspended loss (loss harvesting from stock market, not CA specific) to eliminate 100% of the LTCG gains from the property sale on federal tax. However, for CA NR tax, I believe the gains are taxable as the CG suspended losses were not the result of any CA source loss.
Is this understanding correct?
