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List the adjustments to an individual taxpayer's negative taxable income amount that must be made in computing an NOL for the year. What is the

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List the adjustments to an individual taxpayer's negative taxable income amount that must be made in computing an NOL for the year. What is the underlying rationale for requiring these adjustments for individuals? Select the adjustments to an individual taxpayer's negative taxable income amount that must be made in computing an NOL for the year. (Select three that apply.) A. Any capital loss deduction. B. Any NOL deduction. C. Any carryover charitable contributions taken during the year. D. Any allowable casualty loss deduction. E. Any self-employment income being decreased by a Sec. 179 depreciation deduction. F. Excess of nonbusiness deductions over nonbusiness income. G. Bad debt allowed for a debt made that became worthless during the year. What is the underlying rationale for requiring these adjustments for individuals? A. These adjustments are made to allow taxpayers to net losses against income for the year. This allows for the NOL loss carryover to be greater by adjusting for these three amounts. B. These adjustments are made either in an attempt to measure only the economic loss that occurs when business expenses exceed business income or to prevent a possible double benefit from the deduction. C. These adjustments are made to ensure that in the year of loss, the amount cannot take away the tax of preferential tax items of investment activities. These taxes must still be paid and the remaining NOL carryover amount will be carried forward for any ordinary income in future years. D. These adjustments are made to ensure individual taxpayers are able to take advantage of tax attributes in the most advantageous way possible by allowing adjustments that are carried over the longest be the last adjustment allowed

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