In The News
Taxpayers Entitled to Refund for 2011 Sale of Stock, OTA Rules
Caltaxletter (December 4, 2020): Two taxpayers were entitled to a refund of $423,695 for the 2011 tax year, the Office of Tax Appeals concluded in an October 21 ruling in the Appeal of L. Conacher and J. Dea. In its 2-1 ruling, the OTA additionally denied the Franchise Tax Board’s proposal of $20,120 of additional tax plus interest, and granted $5,553,205 of a capital loss carryover claimed for the 2013 tax year.
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