Ralph is single and has the following items for the current year:
Nonbusiness capital gains
$ 9,000
Nonbusiness capital losses
(3,000)
Interest income
6,000
Itemized deductions (none of the amount resulted from a casualty loss)
(10,000)

In calculating Ralph's net operating loss,and with respect to the above amounts only,what amount must be added back to taxable income (loss)?

Question

Ralph is single and has the following items for the current year:
Nonbusiness capital gains
$ 9,000
Nonbusiness capital losses
(3,000)
Interest income
6,000
Itemized deductions (none of the amount resulted from a casualty loss)
(10,000)
​
In calculating Ralph's net operating loss,and with respect to the above amounts only,what amount must be added back to taxable income (loss)?

Quizplus · Accepted Answer

In calculating the net operating loss, nonbusiness capital gains and losses are not included. Therefore, only the interest income and itemized deductions are considered, resulting in no amount needing to be added back.

Ralph Is Single and Has the Following Items for the Current