Monday, July 15, 2019

Capital Loss Carryover from a Deceased Spouse

A deceased spouse's capital loss carryover from their own separate property can't be used after the final joint return. The capital loss carryover dies with the deceased. If the capital loss came from jointly owned property, then the surviving spouse can claim half of the loss carryforward. This is another reason for spouses to hold property in joint ownership.
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2 comments:

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