Juan, married and filing jointly, reports the following income and deductions for 2019: $\begin{array}{lr}
\text { Sales } & \$ 600,000 \
\text { Business expenses } & (650,000) \
\text { Interest income } & 3,000 \
\text { Dividends } & 4,000\
\text {Federal disaster area personal casualty loss (after }&(25,000) \
\text { deducting the $ \$ 100 $ floor)}\
\text { Taxes paid on personal residence } & (7,000) \
\text { Interest paid on personal residence } & (9,000) \
\text { Alimony paid } & (18,000)
\end{array}$
Juan has three dependent children. Calculate the net operating loss for 2019.

Question

Juan, married and filing jointly, reports the following income and deductions for 2019: $\begin{array}{lr}
\text { Sales } & \$ 600,000 \
\text { Business expenses } & (650,000) \
\text { Interest income } & 3,000 \
\text { Dividends } & 4,000\
\text {Federal disaster area personal casualty loss (after }&(25,000) \
\text { deducting the $ \$ 100 $ floor)}\
\text { Taxes paid on personal residence } & (7,000) \
\text { Interest paid on personal residence } & (9,000) \
\text { Alimony paid } & (18,000)
\end{array}$
 Juan has three dependent children. Calculate the net operating loss for 2019.

Quizplus · Accepted Answer

The Answer of Juan, married and filing jointly, reports the following income and deductions for 2019: $\begin{array}{lr}
\text { Sales } & \$ 600,000 \
\text { Business expenses } & (650,000) \
\text { Interest income } & 3,000 \
\text { Dividends } & 4,000\
\text {Federal disaster area personal casualty loss (after }&(25,000) \
\text { deducting the $ \$ 100 $ floor)}\
\text { Taxes paid on personal residence } & (7,000) \
\text { Interest paid on personal residence } & (9,000) \
\text { Alimony paid } & (18,000)
\end{array}$
 Juan has three dependent children. Calculate the net operating loss for 2019.

Juan, Married and Filing Jointly, Reports the Following Income and Deductions