2. What is the amount of Kelly's 2020 NOL?

Net loss from business (sales of $90k less expenses of 120k) = $-30k

Salary from part time employment = $10k

Interest income from savings = $3,000

Net loss from farm activity = $-5,000

Net long term capital gain from sale of business property = $7,000

Net short term capital loss -----stock sale = $-4,000

Standard deduction = $12.4k

Choices:

A $13k

B $31.4k

C $25k

D $18k