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Old 03-29-2011, 01:32 AM
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Capital loss carryover in a multi state return

How do you enter capital loss carryover in a multi state return?

There are no transactions [so no capital gains or losses] in the year 2010, and the capital loss carryover from last year [2009] is when TP resided in CA. In Nov 2010, TP moved to NM, so how do you treat this for CA and NM?

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Old 03-30-2011, 02:10 AM
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“There are no transactions [so no capital gains or losses] in the year 2010, and the capital loss carryover from last year [2009] is when TP resided in CA. In Nov 2010, TP moved to NM, so how do you treat this for CA and NM?”--->I guess The TP reports the capital loss carryover on CA return as part year resident of CA; the TP is responsible for NM taxes on the TP’s NM income, between Nov 2010 through Dec 31 2010 as part year resident of NM.



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Old 03-30-2011, 10:48 AM
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Thank you Wnhough, I appreciate your help



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