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Sam, age 45, is single. For 2011, he has the following items:

Business income $70,000
Business expenses $65,000
Alimony paid $12,000
Interest income $3,000
Itemized deductions $4,000

A. Determine Sam's taxable income for 2011

B. Determine Sam's NOL for 2011

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M948867

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