Christian Posted March 25, 2021 Report Posted March 25, 2021 I am preparing a client's final return she having died in May 2020. She has a significant remaining capital loss in excess of the annual $3000 which is deductible in any year. Can this be added to Schedule D and taken off since this is her final return or is it simply lost? I have not encountered this in a number of years and although using the loss appears only fair we all know what is fair often does not apply in tax law. There will be no estate fiduciary return as there was no income post death her assets passing immediately to her two children by TOD ownership. Quote
Abby Normal Posted March 25, 2021 Report Posted March 25, 2021 Nope. The loss goes bye bye. 3 1 Quote
Christian Posted March 25, 2021 Author Report Posted March 25, 2021 Yep that's what I was thinking but much has changed in tax law and it was worth a shot. Quote
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