Stella, age 38, is single with no dependents. The following information was obtained from her personal records for the 2017 year.
Based on the above information, what is Stella's net operating loss for 2017?
A)$0
B)($9,000)
C)($10,360)
D)($11,200)
E)None of the above

Question

Stella, age 38, is single with no dependents. The following information was obtained from her personal records for the 2017 year. ​
 Based on the above information, what is Stella's net operating loss for 2017?
A)$0 
B)($9,000) 
C)($10,360) 
D)($11,200) 
E)None of the above

Quizplus · Accepted Answer

Stella's total income for 2017 is $45,000. Her business loss is $10,000 and her capital loss is $360. She cannot deduct her capital loss in 2017, but she can carry it forward to future tax years. Therefore, her net operating loss for 2017 is $10,000.

Stella, Age 38, Is Single with No Dependents