Question
Roberto incurred a $60,000 nonfarm net operating loss (NOL) in 2018. Before deducting the NOL carryforward, his 2019 AGI is $45,000 and his taxable income
Roberto incurred a $60,000 nonfarm net operating loss (NOL) in 2018. Before deducting the NOL carryforward, his 2019 AGI is $45,000 and his taxable income is $21,000. How much is Roberto's NOL deduction for 2019?
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
978-0078025587
