Restating federal capital losses after to CA

Forum|Forum|2 years ago
April 10, 2024
1 reply
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Hi all, I moved to CA mid 2023 from a state without income taxes.. lets say I have a federal capital loss carryover of 10k

Under my state tax form, TT is asking for Capital Loss Carryover from Last Year. Last year meaning capital losses if I were a resident of CA and filed a tax return? So this number would be 0.. and I would later restate my losses as if I were a CA resident?

How and when would I restate my federal capital loss as if I were a CA resident? In my 2024 tax return?

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Bsch4477

Employee

Your capital loss is treated as if you were a California resident the prior years.

00p299Author

Okay, so for my 2023 tax return, I should just copy paste my federal capital loss carryover amount into the state tax form asking for "capital loss carryover from last year"?

Bsch4477

Employee

Your California return tax calculation begins with your federal AGI which in turn includes your capital loss. So unless the state and federal losses were different you shouldn’t have to do anything.