Emily, who is single, sustains an NOL of $7,800 in 2022. The loss is carried forward to 2023. For 2023, Emily’s income tax information before taking into account the 2022 NOL is as follows:

How much of the NOL carryforward can Emily use in 2023, and what is her adjusted gross income and her taxable income?

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Adjusted gross income Itemized deductions*: Medical [$3,650 (7.5% X $48,200)] Taxes Interest expense on home mortgage Taxable income $ 35 6,100 11,000 $ 48,200 (17,135) $ 31,065