Estate Tax Question

[Snaggletoof]

Thanks Again

Thanks again, Sandy. What you describe is exactly what I expected. The problem is in my software, as it doesn't carry ANY of this.

Signing out on this one. Thanks.

[Unregistered]

Hi there,

An estate is only allowed an NOL if the NOL is created from an ongoing business, not from a loss due to deductions exceeding income on the face of the return. These are known as excess deductions. They are only deductible in the final year. If this isn't a final year then they are lost forever.

Hope this helps.