Mario, a single taxpayer with two dependent children, has the following items of income and expense during 2021:

Gross receipts from business	$144,000
Business expenses	180,000
Net capital gain	22,000
Interest income	3,000
Itemized deductions (state taxes, residence interest, and contributions)	24,000

If required, use the minus sign to indicate a negative AGI or a loss.

a. Determine Mario's taxable income or loss for 2021.

Adjusted gross income
Less: Itemized deductions
Less: Deduction for qualified business income
IncomeLoss

b. Indicate which items are adjustments to taxable income or loss when computing an NOL.

Business receipts	Adjustment OR Not an adjustment?
Business expenses	Adjustment OR Not an adjustment?
Net capital gain	Adjustment OR Not an adjustment?
Interest income	Adjustment OR Not an adjustment?
Itemized deductions	Adjustment OR Not an adjustment?

c. Determine Mario's NOL for 2021.

Mario's NOL is $________