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Alma Algonquin is a single taxpayer and operates Alma's Almond Products as a sole proprietor. For 2020, Alma's Almond Products reports $65,000 in gross receipts

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Alma Algonquin is a single taxpayer and operates Alma's Almond Products as a sole proprietor. For 2020, Alma's Almond Products reports $65,000 in gross receipts from business, and business expenses of $112,000 For her 2020 individual tax return, Alma reports these additional personal items Interest Income $5,000 LT Capital Gain $18,000 LT Capital Loss ($4,100) Mortgage Interest $7,900 State & Local Taxes $8,100 A) Based on the above information, determine Alma Algonquin's taxable income for 2020. B) Based on the above information, determine Alma Algonquin's Net Operating Loss for 2020

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