Question: Exercise 7-30 (Algorithmic) (LO. 7) Emily, who is single, sustains an NOL of $10,600 in 2023. The loss is carried forward to 2024. For 2024,

Exercise 7-30 (Algorithmic) (LO. 7) Emily, who is single, sustains an

Exercise 7-30 (Algorithmic) (LO. 7) Emily, who is single, sustains an NOL of $10,600 in 2023. The loss is carried forward to 2024. For 2024, Emily's income tax information before taking into account the 2023NOL is as follows: * The 2023 single standard deduction is $13,850; Emily's itemized deductions will exceed the 2024 single standard deduction (after adjustment for inflation). How much of the NOL carryforward can Emily use in 2024, and what is her adjusted gross income and her taxable income? Emily may use $ of the NOL, resulting in adjusted gross income of $ and taxable income

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