Reply To: California income tax question

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#8159
ruth
Participant

California follows federal law unless there’s a specific California provision that states otherwise. I can find nothing in California law that allows a capital loss on the sale of property held for personal purposes.

California Publication 1001 contains a thorough discussion of the differences between California and federal law. https://www.ftb.ca.gov/forms/2019/2019-1001-publication.pdf