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  2. California State Tax Guide 2024: Income, Sales, Property Tax ...

    www.aol.com/california-state-income-taxes-2023...

    The figure on line 11 of your IRS Form 1040 gets transferred over to line 13 of your California state tax return Form 540. But California’s tax laws differ from federal laws, so you might have ...

  3. Net operating loss - Wikipedia

    en.wikipedia.org/wiki/Net_operating_loss

    Prior to passage of the 2017 Act, NOLs could be carried back to the two tax years before the NOL year. For example, the tax loss from 2015 could be carried back to 2013 or 2014. Any remaining amount could be carried forward for up to 20 years. The taxpayer could elect to waive the carryback and therefore carry all of the loss to future years.

  4. Tax-loss harvesting: How to turn investment losses into ... - AOL

    www.aol.com/finance/tax-loss-harvesting-turn...

    That $3,000 net loss could save you $720 in taxes at the 24 percent marginal tax bracket at the federal level and potentially further savings at the state level.

  5. Tax returns in the United States - Wikipedia

    en.wikipedia.org/wiki/Tax_returns_in_the_United...

    For individuals, amended returns are filed using Form 1040X, Amended U.S. Individual Income Tax Return. In some cases taxpayers may use Form 1045, for example, to carry back a Net Operating Loss to a prior tax period. Form 1045 is generally processed much faster than Form 1040X.

  6. Tax loss harvesting - Wikipedia

    en.wikipedia.org/wiki/Tax_loss_harvesting

    If marginal rates are different, then there can be additional tax savings (e.g., deducting excess losses against a higher ordinary income rate in one year in exchange for additional long term capital gains tax at a lower rate in a later year) or even a tax penalty (e.g., deducting at a lower capital gains tax rate in several years in exchange ...

  7. Still waiting on your California tax refund? Here’s how to ...

    www.aol.com/still-waiting-california-tax-refund...

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