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?
Chapter7: Deductions And Losses: Certain Business Expenses And Losses
Section: Chapter Questions
Problem 31P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT