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Bill, age 40, is married with two dependents. Bill had the following items for the 2014 year: Bill files his tax return as married filing
Bill, age 40, is married with two dependents. Bill had the following items for the 2014 year:
Bill files his tax return as married filing jointly and he claimed personal and dependent exemptions $15,800 for the year. Based on the above information, what is the net operating loss for Bill and his spouse for the 2014 year?
a. $0 b. $5,000 c. $7,000 d. $12,000 e. None of these
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