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R
runnerdude
March 22, 2025
Question

question on california state CLC ...

  • March 22, 2025
  • 1 reply
  • 0 views

do you HAVE to apply/use one's long term CLC to offset one's long-term capital gain even if doing so doesn't save you any money ?

 

software forced me to apply $300 of my CLC balance to offset

my $300 long-term capital gain even though doing so did not save me any money ...

 

is there a way to "opt out" of using a portion of one's CLC balance in any given

year and saving it to use in a year where it will actually save you some money ... ?

 

same question for federal ...

 

thanks !

1 reply

SusanY1
SusanY1
March 31, 2025

No, you can't opt out of using up the annual carryover capital loss on your California or federal tax return each year. 

 

You must reduce by $3,000 (federal) and $300 (California) for each year - whether you can "use" it or not.  

Any amount remaining after these reductions will carry over to the next year.  

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