John, who is single, has the following items for the current year: Wages Rental loss Interest income Capital gains NOL carryforward from 2017 Mortgage interest expense Real estate taxes State income taxes $54,200 ($76,200) $1,600 $2,400 ($13,200) $12,200 $6,000 $3,500 What is John's net operating loss for the current year?

John, who is single, has the following items for the current year: Wages Rental loss Interest income Capital gains NOL carryforward from 2017 Mortgage interest expense Real estate taxes State income taxes $54,200 ($76,200) $1,600 $2,400 ($13,200) $12,200 $6,000 $3,500 What is John's net operating loss for the current year?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 31P

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X Your answer is incorrect. William, who is single, has the following items for the current year: Wages Rental loss Interest income Capital gains NOL carryforward from 2017 Mortgage interest expense Real estate taxes State income taxes What is William's net operating loss for the current year? Loss tA $54,500 ($76,500) $1,750 $2,550 ($13,500) $12,500 $6,000 $3,500 $ 53200
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