Question

in 2017 Laura had total non-business income of $2840. Or 2017 adjusted and deductions included.

deductible IRA contributed of $3500

property taxes of 1456

Real estate taxes are $1045

mortgage interest of 2835

employee business expense of $623

charitable contribytions of $614

using the adjustments and adoptions listed above compute the net operating loss non-business deduction in XL of non-business income modification.

1. 3110

2. 4956

3. 6610

4 7233.

Answer 1

HCL Kraosoft Exc Home Page Layout Formulas Review View Insert Data Cut Wrap Text Calibri 11 General Copy B IU Conditional Raste Cel Insert Delete Format E R Merge & Center Format Formatting as Table Styles S % Format Painter Aihment Font Numper Cetls Clipboard Styles 115 F G H A C M Laura's Non-Business Income in 2017 is $2,840/ 2 Deductible IRA contributed is a deductionallowable for an amount of $3500- 4 Property taxes are those which are charged on the basis of value of property and deduction of same is allowed. Hence amount of $1456 is deductible. Real Estate taxes are levied fro general public welfare and hence deductible. Hence amount of $1045 is deductible. 5 6 Mortgage interest is interest paid on house property and deduction of same is allowed frommon-business income. Hence amount of $2835 is deductible Employee business expense is expense which is related to business and deducitorn of same will be allowed to business and not in non-business income Charitable Contributions are deductible satisfying certain conditions. Hence amount of $614 is deductible 7 8 9 10 CALCULATION: 11 12 NON BUSINESS INCOME 2,840 13 DEDUCTIONS:- 14 IRA CONTRIBUTION -3,500 15 PROPERTY TAXES -1,456 16 REAL ESTATE TAXES 1,045 17 MORTGAGE INTEREST -2,835 18 CHARITABLE CONTRIBUTION -614 19 20 TOTAL NET OPERATION LOSS -6,610 21 NON BUSINESS 22 23 OPTION C 24 25 4 Ans 1 Ans 4 Ans Ans 6 Ans 7 Ans 5 Ans 8 Ans 9 Ans 10 Ans 11 Ready