Question

in 2018 marilyn had total nonbusiness income of $1,250. her 2018 adjustments and deductio

As an du For the carryover or carryforward year Mark for follow up Question 61 of 75. Partnership and S corporation returns can: Carry their NOLS back ten years. No cury VOLS back or forward wave a chce of carrying their NOLS forward two, ten, or twenty years. O Carry forward their NOLS 15 years. O Mark for follow up Question 62 of 75. In 2018, Marilyn had total nonbusiness income of $1,250. Her 2018 adjustments and deductions include: • Deductible IRA contribution of $4,000; • Property taxes of $1,083; • Real estate tax of $1,831; • Mortgage interest of $3,914; • Educator expenses of $874; • Charitable contributions of $614. Using the adjustments and deductions listed above, compute the net operating loss (NOL) nonbusiness deductions in excess of nonbusiness income modification. O $6,192 O $10,192 $10,452 O $11,066 Mark for follow up Question 63 of 75. arnthack vear, the NOL is combined with the AGI from the return as originally filed or amended. All utod based on the new AGI EXCEPT:

Answer 1

The correct answer is Option B - $10,192

Notes

Total Non Business Income = $1,250

Less: Deductions allowed

IRA Contribution = $4000

Property Taxes = $1083

Real Estate Taxes = $1831

Mortgage Interest = $3914

Charitable contributions = $614

Net Operating Loss = $10192