n 2018, Catherine had a negative AGI of $20,500 and used a $12,000 standard deduction. Her total nonbusiness income reported on her 2018 Form 1040 is $2,500. Her 2018 adjustments and deductions include: standard deduction of $12,000, educator expense of $250, and $4,500 alimony paid. Compute Catherine's 2018 NOL.

n 2018, Catherine had a negative AGI of $20,500 and used a $12,000 standard deduction. Her total nonbusiness income reported on her 2018 Form 1040 is $2,500. Her 2018 adjustments and deductions include: standard deduction of $12,000, educator expense of $250, and $4,500 alimony paid. Compute Catherine's 2018 NOL.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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