Hi Pro Series Community,

I have a case with k1 income for 2024 $315,000 and loss carry over from 2023 $360,000.

With federal, it is ok, the client do not need to pay any tax but with California, the loss $360,000 from 2023 not apply so client still have to pay tax on the income $315,000.

 I know California suspension of NOL deduction for 2024 through 2026 but just for income over $1 million.

Is there any way I can do in this case?

Best regards,

Trung Nguyen