Step #5 from the following Turbo Tax explanation is confusing me. Could someone do a better job of re-wording?Where to Find Your California Capital Loss CarryoverLook at your 2007 California Schedule D (540) and see if there are amounts on lines 8 and 9. If line 9 is smaller than line 8,you may have a carryover. No difference means you don't have a carryover.Follow these steps to figure the amount to carry over to 2008:1. Start with your California Form 540 or 540NR, line 17.2. Subtract Form 540/540NR, line 18 from line 17.3. Take the difference from step 2 and add your loss from California Schedule D, line 11.4. Compare the result with your loss on California Schedule D, line 8.5. Subtract the smaller amount in step 4 from the amount on California Schedule D, line 8.The result is your California capital loss carryover to 2008.Example numbers one can use to show how to figure it out:2007 info:CA Schedule D line 8 --> -100000CA Schedule D line 9 --> 3000CA Schedule D line 11 --> -30002007CA 540 line 17 --> 50000CA 540 line 18 --> 5000Thanks!V
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