"anoop" <ghanwani[at]gmail.com> writes:

- quote -

I don't know about CA in particular, but states aren't
obliged to follow the federal carryover rules.
For example, in MA a net capital loss can only be applied
to interest and dividends, and then no more than $2000.
Obviously this will create signficant differences between
federal and MA cap loss carryovers.

So perhaps there's some aspect of CA taxes that lead
to the carryovers being different.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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I did my taxes last year using Turbo Tax. While going
through a copy of my returns, I realized that there is
discrepancy of about $500 between the capital loss carryover
in the worksheets between Federal and State (California).
Is there an explanation for this, or does it look like my
taxes might have been in error?

Anoop

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