Tax question re net loss carry forward
May 5, 2010 8:35 PM Subscribe
If one lives in State A and sustains a business loss and has an eligible net carry loss forward that will run over several years, and then one moves to State B the next year after the year in which the loss is sustained, is it accurate that none of the net carry loss forward can be used in State B, eg although one still retains the benefit for federal tax purposes, moving to another state effectively loses the opportunity to use the net loss carry forward for state tax purposes since you're now living in a state in which the loss was not originally incurred?
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posted by gum at 8:38 PM on May 5, 2010