Question

California carryover loss after residency gap years

Forum|Forum|6 years ago
January 19, 2020
1 reply
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In 2016 I moved out of CA with significant capital loss carryover (all from losses in stock). I filed 2016 part year resident CA tax which documented this carryover loss. I had no capital losses in subsequent years. I did not file CA tax in 2017 or 2018 as I had no CA income.

In 2019 I moved back to CA and I'm now preparing a part year resident CA tax filing.

I assume that the full amount of my California capital loss carryforward from the 2016 filing goes right into the 2019 filing. Is that right? Or are there adjustments for the residency gap years?

TurboTax Home & Biz Windows

J

JotikaT2

Yes, that is correct.

Any California capital loss carryforward from 2016 which you have not used to offset any other California source capital gains in 2017 or 2018 can be used for your 2019 part year California return.

The Califonia capital loss carryover can be entered into TurboTax in the state section of the return.

Answer the questions on the interview forms until you see "Capital Loss Carryover from 2018".

Enter your unused California capital loss carryover amounts.

Please see the attached publication from the Franchise Tax Board for additional information.

California capital gains and losses publication

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