How to calculate capital loss carryover?
Loss from Schedule D (540), line 11, stated as a positive number. (-1 on form. As a result changing this to a positive number and removing negative nubmer) 1
Amount from Form 540, line 17. 130,000
Amount from Form 540, line 18. 5,000
Subtract line 3 from line 2.If less than zero, enter as a negative amount. 125000
Combine line 1 and line 4. If less than zero, enter -0-. 125001
Loss from Schedule D (540), line 8. -1
Enter the smaller of line 1 or line 5. 1
Subtract line 7 from line 6. This is your capital loss carryover to 2023 (-1-1 = ). -2
Is my capital loss carryover -2?
I'm unable to enter a negative number. What should I enter? 0 or 2?
Comments
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Hello,
So there is a slight error in your calculations. For line 6 (Enter the loss from Schedule D (540) or (540-nr)), line 8, it should be entered as a positive number and not a negative number.
So line 8 will end up being 1-1, which equals 0. You should enter 0 there, Or say that you do not have any CA capital loss carryover.
