In 2019, Mary Jackson had the following income and deductions listed on her individual income tax return:
Question:
In 2019, Mary Jackson had the following income and deductions listed on her individual income tax return:
Compute the amount of Mary’s 2019 net operating loss.
Transcribed Image Text:
Business income Interest income on personal investments Less: Business expenses Less Nonbusiness deductions Loss shown on tax return $25,150 2,000 45,000 3,000 $(20,850)
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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