Ralph Sample had the following income and deductions listed on his 2019 income tax return: Compute the
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Ralph Sample had the following income and deductions listed on his 2019 income tax return:
Compute the amount of Ralph’s 2019 net operating loss.
Transcribed Image Text:
Salary Business income Interest income on personal investments Less: Business expenses Less: Nonbusiness deductions Loss shown on tax return $25,150 65,000 10,000 102,000 12,000 $(13,850)
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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