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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15731
Experience:  15years with H & R Block. Divisional leader, Instructor
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Does CA usually disallow carry-forward losses on a personal

Customer Question

Does CA usually disallow carry-forward losses on a personal return? I'm using software, and it is not allowing the carry-over of the losses that I took on my federal return.
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  Robin D. replied 1 year ago.

Only in certain circumstances.

CA has it's own Schedule D. If you were a resident of California for all prior years, enter your California capital loss carryover from 2014 on line 6 of the schedule.

However, if you were a nonresident of California during any taxable year that generated a portion of your 2014 capital loss carryover, recalculate your 2014 capital loss carryover as if you resided in California for all prior years. Get FTB Pub. 1100, Taxation of Nonresidents and Individuals Who Change Residency, for more information. Enter your California capital loss carryover amount from 2014 on line 6.

Customer: replied 1 year ago.
My loss is an operating loss carryover, not a capital loss carryover. How do I handle that?
Expert:  Robin D. replied 1 year ago.

You had a net operating loss that you claimed on Line 21 of the 1040 then correct?

Customer: replied 1 year ago.
Expert:  Robin D. replied 1 year ago.

Thanks, ***** ***** get you the CA form for that. They have special rules but an NOL carryforward is allowed provided your were a CA resident when the NOL occurred

Expert:  Robin D. replied 1 year ago.

https://www.ftb.ca.gov/forms/2015/15_3805v.pdf

You may need to select that form yourself in the software.