Capital loss carryforward for State Tax return in multiple state

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Post Reply
Topic Author
jane1
Posts: 801
Joined: Mon Dec 26, 2011 1:00 am

Capital loss carryforward for State Tax return in multiple state

Post by jane1 »

I have a unique situation, but hopefully someone can answer this.
  • CA resident until mid-2019
  • FL resident since then & have jobs in FL with FL income. FL has no state income tax
  • RSU allotted in 2018, some of which vested in 2020 - CA treats this as income derived from CA sources since we were CA residents when RSU was given. Let's say $10K worth RSUs vested in 2020
  • We have Capital Loss carryforward (loss happened while CA residents) that we continue to use to offset $3000 from Ordinary Income on Federal Return
For 2020 Tax Return we will have to file CA nonresident form as well. My question is whether I would pay CA taxes on $10K or can I count $3000 as CA loss and subtract. Logically one would expect we could. But logic doesn't always work!

Thanks for your help.
Post Reply