Question: Destry, a single taxpayer, reported the following on his US Individual Income Tax Return Form 1040: Income Wages $ 5,000 Interest on savings account 1,000

Destry, a single taxpayer, reported the following on his US Individual Income Tax Return Form 1040:

Income Wages $ 5,000 Interest on savings account 1,000 Net rental income 4,000 Deductions Personal exemption $ 3,650 Standard deduction 5,700 Net business loss 16,000 Net short-term capital loss 2,000 What is Destry’s net operating loss that is available for carryback or carryforward?

a. $ 7,000

b. $ 9,000

c. $13,000

d. $16,000

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