Question
Kayla reported the following amounts in her 2021 tax return: Interest income $ 6,000 Loss from sole proprietorship (20,000) AGI (14,000) Standard deduction (12,550) ($26,550)
Kayla reported the following amounts in her 2021 tax return:
| Interest income | $ 6,000 |
| Loss from sole proprietorship | (20,000) |
| AGI | (14,000) |
| Standard deduction | (12,550) |
| ($26,550) |
Kayla has generated an NOL of
A.
$0.
B.
($14,000).
C.
($26,550).
D.
($20,000).
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Fundamentals Of Taxation 2015
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
8th Edition
1259293092, 978-1259293122, 1259293122, 978-1259293092
