Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-29-2011, 01:32 AM
Junior Member
 
Join Date: Mar 2011
Posts: 4
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?

Thanks



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-30-2011, 02:10 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
“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.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 03-30-2011, 10:48 AM
Junior Member
 
Join Date: Mar 2011
Posts: 4
Thank you Wnhough, I appreciate your help



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Multi State MA & RI SherylB314 Rhode Island 1 01-20-2009 11:38 PM
Latest on New York State Multi-State Corporation Tax Issues TaxGuru New York 0 07-22-2008 04:37 PM
Capital Loss in Trading rweworld Capital Gains 3 03-27-2008 10:06 AM
Capital Losses carryover period allowed PaulChamil Capital Gains 2 03-21-2008 02:49 AM
What happens when you sustain a capital loss of more than $3,000? TaxGuru Capital Gains 2 02-07-2008 06:08 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.