Press Room

March 01, 2016

You Can’t Take it With You: Passive Activity Loss Carryovers at Death

Passive activity losses (PALs), generated when a taxpayer incurs ordinary losses in a passive investment, may be treated differently in the case of a taxpayer’s death. For individuals with large PALs, it is important that practitioners be aware of the rules relating to the disposition and transfer of passive assets, and be proactive in planning with these valuable tax attributes.  

March 1, 2016
Read the entire article here.