What was shalas 2013 net operating loss amount assuming, Ask an Expert

Accounting

What was Shala's 2013 Net Operating Loss amount assuming that she had the following items listed on her income tax return?

Business Income $52,000
Interest income on personal investments $5,000
Less: Business Expenses ($73,000)
Less: Personal exemption ($3,900)
Less: Nonbusiness deductions ($7,000)
Loss shown on return ($26,900)

a. $26,900

b. $21,000

c. $11,000

d. $0

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Accounting Basics, Accounting

Category:- Accounting Basics
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