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    #1

    Nolloss

    What happens to a NOL on a prior jt return with a carryover not used and tp died in prior year 2012? Does spouse get to carryover the nol. She continued the farm operation in 2013. Can she step up her basis in farm animals used in breeding cycle? Seen this once before but now not for sure. any thoughts?
    Last edited by TAX4US; 02-18-2014, 12:42 PM.
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    #2
    I would call the IRS chief counsel at (202) 371-7280
    Believe nothing you have not personally researched and verified.

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