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Mary a single taxpayer with two dependent children has the following items of income and expense during 2015 Gross receipts from business $144000 Business Expenses

Mary a single taxpayer with two dependent children has the following items of income and expense during 2015

Gross receipts from business $144000

Business Expenses 180000

Alimony Received 22000

Interest Income 3000

Itemized Deductions 24000

Determine Mary's taxable income for 2015

Determine Mary's NOL for 2015

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