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Please show all work 15. Guadalupe reported the following amounts in her 2021 tax return; Interest income Loss from sole proprietorship AGI Standard deduction $
Please show all work
15. Guadalupe reported the following amounts in her 2021 tax return; Interest income Loss from sole proprietorship AGI Standard deduction $ 6,000 (20,000 (14,000 (12,550 ($26,550 Guadalupe has generated an NOL of (show all work long form): A) $0. B) ($26,550). C) ($14,000). D) ($20,000). 16. Javier incurred a $25,000 net operating loss in 2021. In 2022, he earned $35,000 of taxable income. Javier will be able to take an NOL deduction in 2022 of A) $25,000. B) $40,000. C) $28,000. D) $26,250Step by Step Solution
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