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Phillis and Trey are married and file a joint tax return. For 2018, they have $19,750 of nonbusiness capital gains, $7,900 of nonbusiness capital losses,
Phillis and Trey are married and file a joint tax return. For 2018, they have $19,750 of nonbusiness capital gains, $7,900 of nonbusiness capital losses, $1,975 of interest income, and no itemized deductions. The standard deduction for married filing jointly is $24,000 for 2018.
Based on these transactions, to arrive at the NOL, Phillis and Trey's taxable income must be adjusted by $ _______
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