52. LO.7 During 2013, Ron and his wife, Sue, had the following items of income and expense to report:

Farming income $300,000 Farming expenses 350,000 Interest income 30,000 Taxes 15,000 Casualty loss (after $100 reduction and 10%-of-AGI reduction) 20,000

a. Determine Ron and Sue’s taxable income for 2013.

b. Determine Ron and Sue’s NOL for 2013.

c. Determine Ron and Sue’s farming loss for 2013.

d. To what years can Ron and Sue’s NOL be carried?