CA NOL first to die - Spidell

CA NOL first to die

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Message Board CA NOL first to die

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    • #261773
      Anonymous
      Member

      What happens with a California NOL on a joint return when the first spouse dies?  Does the whole thing continue with the remaining spouse?  The loss occurred in a partnership that was held in their family trust of which both are trustees and trustors.

    • #262462
      Diane White
      Participant

      The deceased spouse’s allocated portion of the NOL is lost if not used in the year of their death. The surviving spouse can file a joint return only for the year of death utilizing the NOL.

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