This is a little complicated. There is a California Capital Loss Carryover Worksheet which you may or may not have in your 2017 return. If you do not have it, you can easily complete it if you have your California Schedule D and your California 540. Line 8 is what you are seeking. California Capital Loss Carryover WorksheetLoss from Schedule D (540), line 11, stated as apositive number. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 _________Amount from Form 540, line 17 . . . . . . . . . . . . . . . . . 2 _________Amount from Form 540, line 18 . . . . . . . . . . . . . . . . . 3 _________Subtract line 3 from line 2. If less than zero, enteras a negative amount. . . . . . . . . . . . . . . . . . . . . . . . . . 4 _________Combine line 1 and line 4. If less than zero,enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 _________Loss from Schedule D (540), line 8. . . . . . . . . . . . . . . 6 _________Enter the smaller of line 1 or line 5 . . . . . . . . . . . . . . . 7 _________Subtract line 7 from line 6. This is your capital losscarryover to 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 _______

Solved

On 2018 Form 1040, it asks for 'Capital Loss Carryover from California Form 540, Schedule D". Which line from my 2017 California Form 540, Schedule D does this refer to?

Forum|Forum|7 years ago
June 3, 2019
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Best answer by Cindy0H

This is a little complicated. There is a California Capital Loss Carryover Worksheet which you may or may not have in your 2017 return. If you do not have it, you can easily complete it if you have your California Schedule D and your California 540. Line 8 is what you are seeking.

California Capital Loss Carryover Worksheet

Loss from Schedule D (540), line 11, stated as a

positive number. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 _________
Amount from Form 540, line 17 . . . . . . . . . . . . . . . . . 2 _________
Amount from Form 540, line 18 . . . . . . . . . . . . . . . . . 3 _________
Subtract line 3 from line 2. If less than zero, enter

as a negative amount. . . . . . . . . . . . . . . . . . . . . . . . . . 4 _________
Combine line 1 and line 4. If less than zero,
enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 _________
Loss from Schedule D (540), line 8. . . . . . . . . . . . . . . 6 _________
Enter the smaller of line 1 or line 5 . . . . . . . . . . . . . . . 7 _________
Subtract line 7 from line 6. This is your capital loss

carryover to 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 _______

M

mf_js

As I don't have a California Capital Loss Carryover Worksheet, I need to use the second method. Except I also do not have a California Schedule D, only a Federal Schedule D under the Form 1040. Is there a different name the California Schedule D could go by?

C

Cindy0HAnswer

Employee

This is a little complicated. There is a California Capital Loss Carryover Worksheet which you may or may not have in your 2017 return. If you do not have it, you can easily complete it if you have your California Schedule D and your California 540. Line 8 is what you are seeking.

California Capital Loss Carryover Worksheet

Loss from Schedule D (540), line 11, stated as a

positive number. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 _________
Amount from Form 540, line 17 . . . . . . . . . . . . . . . . . 2 _________
Amount from Form 540, line 18 . . . . . . . . . . . . . . . . . 3 _________
Subtract line 3 from line 2. If less than zero, enter

as a negative amount. . . . . . . . . . . . . . . . . . . . . . . . . . 4 _________
Combine line 1 and line 4. If less than zero,
enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 _________
Loss from Schedule D (540), line 8. . . . . . . . . . . . . . . 6 _________
Enter the smaller of line 1 or line 5 . . . . . . . . . . . . . . . 7 _________
Subtract line 7 from line 6. This is your capital loss

carryover to 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 _______

C

celeryqinguo

Employee

I noticed that 2017 turbo tax software actually automatically picked up the loss carryforward bal from Line 6 of prior year California Capital Loss Carryover Worksheet after transferred data from 2016 tax return. My line 7 has a bal. of $3000.
Could you help to explain what is the reason the software picked up Line 6 instead of Line 8 balance?