Actually, that doesn't appear to be the case. Federal has the SECURE Act that allows you to deduct IRA contributions if you are over 70 1/2. However, California doesn't conform to this and you have to subtract out that IRA deduction if you are over 70 1/2. Hence there's the issue of tracking a different basis for California and Federal. I have no idea how to do this, to have an 8606 for only California but not Federal. Reference CA Pub 1005 Page 6 re SECURE Act repeal of maximum age 70½.
Also, TurboTax handles this incorrectly, both my spouse and I are over 70 1/2, and we both made a $7,000 IRA contribution and deducted $14,000 on our federal return. Turbotax only subtracted out $7,000. I had to make a manual override to subtract out $14,000 on Line 20 of 540 Schedule CA.
