Assume that in addition to the information in Problems 54 and 55, Nell had the following items in 2017:
Personal casualty loss on an asset held for five years ..................    $60,000
Interest expense on home mortgage...............................................      15,000
Determine Nell’s taxable income and NOL for 2017.

Data from 54

Nonbusiness bad debt …………………………………….   $ 6,000

Business bad debt …………………………………………        2,000

Nonbusiness long-term capital gain ………………        4,000

Nonbusiness short-term capital loss ……………..       3,000

Salary …………………………………………………………..       50,000

Interest income ………………………………………….           3,000

Data from 55

Personal casualty gain on an asset held for four months ..........    $10,000
Personal casualty loss on an asset held for two years ................        1,000