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Non Resident of CA, NOL Question

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    Non Resident of CA, NOL Question

    In 2014 client has $100,000 of income. She also has a $20,000 loss from a rental property in CA. So AGI is $80,000.
    The $20,000 loss is her only CA income. Does she have a CA NOL?

    #2
    Check to see if the 540NR package contains the 3805V NOL form.

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      #3
      Originally posted by Kram BergGold
      Does she have a CA NOL?
      No. She does, however, have a PAL carryover of $20,000. She should file a CA tax return, form 540-NR, in order to establish the PAL for the record and track it (on CA form 3801). That suspended PAL will eventually be released and become usable when: (1) she has passive activity income from that property or another activity in California, or (2) when she sells that rental property in a taxable transaction.
      Roland Slugg
      "I do what I can."

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