FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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During 2020, Devonte had the following deductions and adjustments to income: Schedule C (Form 1040) expenses of $18,000, standard deduction of $12,400, HSA contribution of $1,200, and ordinary loss from partnership activity of $1,800. Compute his total business deductions for NOL purposes.

 
 $18,000
 $19,800
 $21,000
 $33,400
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