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cpahdr
Level 3
September 26, 2025
Question

Complex Trust with negative taxable income

  • September 26, 2025
  • 1 reply
  • 10 views

I have a complex trust with negative taxable income but the return does not show a NOL carryforward to next year. Can the negative taxable income be used to reduce income for next year?

1 reply

sjrcpa
sjrcpa
Level 15
September 26, 2025

Unless the trust owns a business and the business has a loss there is no NOL.

Passive losses and capital losses can be carried over to future years.

Negative taxable income, by itself, does not result in any sort of carryover.

Why is there negative taxable income? Expenses > income?

The more I know the more I don’t know.
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