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Magdalena reported the following amounts in her 2021 tax return Interest income $ 6,000 Salary 5,000 Loss from sole proprietorship (20,000) AGI (9,000) Standard deduction
Magdalena reported the following amounts in her 2021 tax return
Interest income | $ 6,000 |
Salary | 5,000 |
Loss from sole proprietorship | (20,000) |
AGI | (9,000) |
Standard deduction | (12,550) |
Taxable Income/(Loss) | ($21,550) |
Magdalena has generated an NOL of (show all work long form):
A) $0.
B) ($15,000).
C) ($20,000).
D) ($21,550).
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