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Jack, age 30 and married with no dependents, is a self-employed individual. For 2021, his self-employed business sustained a net loss from operations of
Jack, age 30 and married with no dependents, is a self-employed individual. For 2021, his self-employed business sustained a net loss from operations of $10,000 from operations. The following additional information was obtained from his personal records for the year: Nonbusiness long-term capital gain Interest income Itemized deductions-consisting of taxes and interest $2,000 6,000 (26,000) Based on this information, what is Jack's net operating loss for 2021 if he and his spouse file a joint return? ($10,000) Ob ($25,000) Oc. ($8,000) O&($2,000)
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