Federal loss reported does contain CA and its entire loss of $10 reported on federal.
It talks about reducing losses if it contains CA losses. Now the form for loss adjustment is Totally confusing. Note: Enter any adjustment as a negative number. These losses must be reduced if it includes California lottery losses or if this number exceeds your California taxable gambling income income.Įnter the greater of the California lottery losses included in your federal deduction or $-10 You reported gambling losses of $10.00 as a federal decuction. Spent 25, won 10, net loss 15 - reported $10 winning and $10 loss on federalįorm: California Gambling Loss Adjustment $10) and I am taking standard deduction on federal.Īll my winnings and losses are in California. I have winning of $10 and reported $10 as loss on federal return (max of winnings even though actual loss is $15, form doesn't allow more than winning i.e.
The screen California Gambling Loss Adjustment is so confusing with no help examples associated with form.
