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Maria and Matthew are married and file a joint return. Maria owns an unincorporated dental practice. Matthew works part-time as a high school math teacher,
Maria and Matthew are married and file a joint return. Maria owns an unincorporated dental practice. Matthew works part-time as a high school math teacher, and spends the remainder of his time caring for their daughter. During 2017, they report the following items EEB (Click the icon to view the data.) (Click the icon to view the 2017 standard deduction amounts.) (Click the icon to view the 2017 personal and dependency exemption and phase-out amounts.) Read the requirements Requirement a. What is Maria and Matthew's taxable income or loss for the year? (Use a minus sign or parentheses for a loss or negative adjusted gross income.) Gross income from business Minus Net business income (loss) Business expenses Requirements Matthew's salary Interest income Adjusted gross income Standard deduction Personal exemptions Taxable income (loss) a. What is Maria and Matthew's taxable income or loss for the year? b. What is Maria and Matthew's NOL (Net operating loss) for the year? PrintDone
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