Wu, who is single, reports the following items for 2019: $$\begin{array} { l r }
\text { Salary } & \$ 25,000 \
\text { Interest income } & 8,000 \
\text { Itemized deductions (\$27,000 attributable to dedutible casualty loss) } & ( 32,000 )
\end{array}$$ What is Wu's net operating loss for 2019?
A)$0
B)($1,000)
C)($2,000)
D)($7,000)
E)None of these.

Question

Wu, who is single, reports the following items for 2019: $$\begin{array} { l r } 
\text { Salary } & \$ 25,000 \
\text { Interest income } & 8,000 \
\text { Itemized deductions (\$27,000 attributable to dedutible casualty loss) } & ( 32,000 )
\end{array}$$ What is Wu's net operating loss for 2019?
A)$0
B)($1,000)
C)($2,000)
D)($7,000)
E)None of these.

Quizplus · Accepted Answer

The Answer of Wu, who is single, reports the following items for 2019: $$\begin{array} { l r } 
\text { Salary } & \$ 25,000 \
\text { Interest income } & 8,000 \
\text { Itemized deductions (\$27,000 attributable to dedutible casualty loss) } & ( 32,000 )
\end{array}$$ What is Wu's net operating loss for 2019?
A)$0
B)($1,000)
C)($2,000)
D)($7,000)
E)None of these.

Wu, Who Is Single, Reports the Following Items for 2019