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Excess Business loss

For my 2022 taxes, I am a resident of CT with business and have 1 rental property in MA. However my loss from Business sourced in CT is 1million and only 540K has been allowed under IRC Sec461(l). The remaining 440k has been CF to 2023 in Federal. But MA is taking the 440K as other income and calculating tax on the same. Is 440k taxable in MA even though the income isn't sourced in MA?

1 Reply
Level 15
Level 15

Excess Business loss

With a business loss of a million dollars you should be working with a skilled local tax professional, not trying to do it yourself with anonymous advice from the internet.


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