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Valeria and Trey are married and file a joint tax return. For 2021, they have $22,000 of nonbusiness capital gains, $8,800 of nonbusiness capital losses,
Valeria and Trey are married and file a joint tax return. For 2021, they have $22,000 of nonbusiness capital gains, $8,800 of nonbusiness capital losses, $2,200 of interest income, and no itemized deductions. The standard deduction for married filing jointly is $25,100 for 2021. Based on these transactions, to arrive at the NOL, Valeria and Trey's taxable income must be adjusted by $
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