2019 FTB NOL for Rental Loss? - Spidell

2019 FTB NOL for Rental Loss?

Log in to Post

Message Board 2019 FTB NOL for Rental Loss?

Viewing 1 reply thread
  • Author
    Posts
    • #257519
      Joyce Schwilke
      Participant

      Non-resident taxpayer for 718 days established in another state sold rental property in CA.  Wiped out Federal tax, leaving CA NOL Carryover?  No income in CA and NOL was calculated properly based upon Form Instructions (never know about Lacerte).  They are not moving back to CA.  Do they lose this “suspended” NOL?   Help please.

    • #257627
      Lynn Freer
      Participant

      They can carry the loss over until they have CA source income in a future year but if they never do, the loss is lost.

Viewing 1 reply thread