Ralph is single and reports the following items for 2019: $$\begin{array} { l r }
\text { Nonbusiness capital gains } & \$ 9,000 \
\text { Nonbusiness capital losses } & ( 3,000 ) \
\text { Interest income } & 6,000 \
\text { Itemized deductions (none of the amount resulted from a casualty loss) } & ( 10,000 )
\end{array}$$ In calculating Ralph's net operating loss and with respect to these amounts only, what amount must be added back to taxable income (loss)?
A)$0
B)$200
C)$2,000
D)$3,000
E)None of these.

Question

Ralph is single and reports the following items for 2019: $$\begin{array} { l r } 
\text { Nonbusiness capital gains } & \$ 9,000 \
\text { Nonbusiness capital losses } & ( 3,000 ) \
\text { Interest income } & 6,000 \
\text { Itemized deductions (none of the amount resulted from a casualty loss) } & ( 10,000 )
\end{array}$$ In calculating Ralph's net operating loss and with respect to these amounts only, what amount must be added back to taxable income (loss)?
A)$0
B)$200
C)$2,000
D)$3,000
E)None of these.

Quizplus · Accepted Answer

The Answer of Ralph is single and reports the following items for 2019: $$\begin{array} { l r } 
\text { Nonbusiness capital gains } & \$ 9,000 \
\text { Nonbusiness capital losses } & ( 3,000 ) \
\text { Interest income } & 6,000 \
\text { Itemized deductions (none of the amount resulted from a casualty loss) } & ( 10,000 )
\end{array}$$ In calculating Ralph's net operating loss and with respect to these amounts only, what amount must be added back to taxable income (loss)?
A)$0
B)$200
C)$2,000
D)$3,000
E)None of these.

Ralph Is Single and Reports the Following Items for 2019