California state taxes: Do I deduct $3000 capital loss from-2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering your name(s) as shown on your tax return at the top of the form.
3. In section 1, list the description of the property you sold, along with your SSN or ITIN.
4. Fill in the sales price and cost basis for each property in columns (b) and (c).
5. Calculate your gain or loss by subtracting column (b) from (c) for losses and vice versa for gains.
6. Proceed to line 4 to total all gains from previous lines, then calculate your total losses on line 7.
7. On line 9, enter the smaller of your total loss or $3,000 if applicable.
8. Finally, complete lines 10 through 12 based on your federal forms and ensure all calculations are accurate before submission.

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