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6- Rob and Diane, a married couple, file a joint return in 2020 and have the following information: - Business income from Rob's travel agency
6- Rob and Diane, a married couple, file a joint return in 2020 and have the following information: - Business income from Rob's travel agency proprietorship ..... $390,000 - Business expenses from Rob's travel agency proprietorship ....... 507,000 - Salary from Diane's part-time employment 62,400 - Net long-term capital gain from stock sale 11,700 - Interest income from investments 3,900 - Net operating loss carryover from 2017. (13,200) - Allowable itemized expenses after limits 22,050 Compute the couple's taxable loss and their net operating loss for 2020 based on the information above
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