Capital loss carryover in California?

[Alex The Great]

Hello everyone, I have a question regarding capital loss. Last year, I did an extensive capital loss harvesting with individual stocks I owned in taxable account at Fidelity. For federal tax report, the amount of capital loss has been imported into TurboTax from Fidelity correctly including the carryover number. But I wonder what number would I enter into California tax report for capital loss carryover? Is it suppose to be the same as in federal report? I've been a California resident for the entire year. A bit confused why TurboTax is asking for this number in State report.
Tried to search including these forums but still no definitive answer.

 

[cathy63]

Yes, your Fed and CA cap loss carryovers can be different.

Did you do your 2022 returns with TTax? Did you have a cap loss carryover from 2022 to 2023, or are you just calculating cap losses for 2023 and will have a carryover to 2024? If you did the 2022 returns with TTax, I would think that the losses for CA would carry over correctly.

If TTax is asking you for the carryover, it probably wants to know what your carryover losses were from your 2022 CA return. You should be able to find them there. If you didn't have anything to carryover to 2023, just enter 0 there.

 

[Alex The Great]

Yes, your Fed and CA cap loss carryovers can be different.

Did you do your 2022 returns with TTax? Did you have a cap loss carryover from 2022 to 2023, or are you just calculating cap losses for 2023 and will have a carryover to 2024? If you did the 2022 returns with TTax, I would think that the losses for CA would carry over correctly.

If TTax is asking you for the carryover, it probably wants to know what your carryover losses were from your 2022 CA return. You should be able to find them there. If you didn't have anything to carryover to 2023, just enter 0 there.

Cathy, thank you so much for the info! Yes indeed it is asking for 2022 number. I did 2022 tax return with TurboTax and I did have CA capital losses to carryover reported for that year. By some reason, TurboTax did not take CA part correctly. I revisited this part and entered amount the same as in federal tax return, which is matching 2022 CA tax return.