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.

Click here to view entire article. (Subscription Required)