Is an individual taxpayer able to succeed to the remaining net operating losses (NOLs) from a bankruptcy estate if that individual dies prior to the termination of the estate?
This was the issue before a United States Tax Court in the case Lassiter v. Commissioner of Internal Revenue (Docket No. 7324-00). The court determined that the death of the debtor did not prevent his wife from using the remaining NOLs on their joint tax return.
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