Jack, age 30 and married with no dependents, is a self-employed individual. For 2017, his self-employed business sustained a net loss from operations of $10,000. The following additional information was obtained from his personal records for the year:
Based on the above information, what is Jack's net operating loss for 2017 if he and his spouse file a joint return?
A) ($2,000)
B) ($8,000)
C) ($10,000)
D) ($11,000)
E) ($14,000)
Correct Answer:
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