Schedule D (540): California Capital Gain or Loss Adjustment (2024)
California · FTB · Used for tax years 2024
California Schedule D (540) calculates your 2024 California capital gain or loss and the adjustment to report on Schedule CA (540). It includes property sales, gains or losses from California Schedules K-1, capital gain distributions, and any California capital loss carryover fro
Who files this form
Schedule D (540) is used to figure the California capital gain or loss adjustment for tax year 2024.
Do not complete this schedule if all of your California gains and losses are the same as your federal gains and losses.
What you'll need
Have the following information and forms available, as applicable:
- Your name as shown on your return and your SSN or ITIN.
- Property sale details, including the description, sales price, and cost or other basis.
- California Schedule(s) K-1 (100S, 541, 565, and 568) showing net gains or losses.
- Federal Form 1099-DIV, box 2a, for capital gain distributions.
- Your California capital loss carryover amount from 2023, if any.
- Federal Form 1040 or 1040-SR, line 7, showing your federal gain or loss.
- Schedule CA (540), where you enter the adjustment calculated on this schedule.
Common mistakes
- Completing this schedule when it is not needed. The form says not to complete it if all of your California gains and losses are the same as your federal gains and losses.
Questions people ask
Where do I enter capital gain distributions?
Enter capital gain distributions from federal Form 1099-DIV, box 2a, on line 3.
Where do I enter a California capital loss carryover from 2023?
Enter it on line 6. The form directs you to see the instructions for this entry.
What amount goes on line 9 if I have a net loss?
If line 8 is a loss, line 9 asks for the smaller of that loss or $3,000. The limit shown is $1,500 if married/RDP filing separately. The form also directs you to see the instructions.
Where does the California adjustment go?
Compare the federal gain or loss on line 10 with the California gain or loss on line 11. If line 10 is more than line 11, enter the difference on line 12a and Schedule CA (540), Part I, Section A, line 7, column B. If line 10 is less than line 11, enter the difference on line 12b and the same Schedule CA line, column C.