Discussion:Federal NOL C/B Reducing California Tax

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Revision as of 02:45, 7 April 2008

Discussion Forum Index --> Advanced Tax Questions --> Federal NOL C/B Reducing California Tax
Discussion Forum Index --> Tax Questions --> Federal NOL C/B Reducing California Tax

Taxwizard (talk|edits) said:

7 April 2008
I have a situation where the Federal NOL carryback reduces the AGI of a carryback year. This would also appear to reduce the AGI for the California return for purposes of the itemized deduction phase-out. RTC 17024.5(h)(2)(A), resulting in a California refund. This seems too good to be true. Am I missing something here?
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