Khalid, who is single, reports the following items for 2019: $$\begin{array} { l r }
\text { Salary } & \$ 40,000 \
\text { Interest income on U.S. Treasury bonds } & 8,000 \
\text { Loss on theft of securities } & ( 60,000 ) \
\text { Interest income on New York state bonds } & 12,000
\end{array}$$ What is Khalid's NOL for 2019?
A)($10,000)
B)($12,000)
C)($16,100)
D)($24,050)
E)None of these.

Question

Khalid, who is single, reports the following items for 2019: $$\begin{array} { l r } 
\text { Salary } & \$ 40,000 \
\text { Interest income on U.S. Treasury bonds } & 8,000 \
\text { Loss on theft of securities } & ( 60,000 ) \
\text { Interest income on New York state bonds } & 12,000
\end{array}$$ What is Khalid's NOL for 2019?
A)($10,000)
B)($12,000)
C)($16,100)
D)($24,050)
E)None of these.

Quizplus · Accepted Answer

The Answer of Khalid, who is single, reports the following items for 2019: $$\begin{array} { l r } 
\text { Salary } & \$ 40,000 \
\text { Interest income on U.S. Treasury bonds } & 8,000 \
\text { Loss on theft of securities } & ( 60,000 ) \
\text { Interest income on New York state bonds } & 12,000
\end{array}$$ What is Khalid's NOL for 2019?
A)($10,000)
B)($12,000)
C)($16,100)
D)($24,050)
E)None of these.

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