Ruth, age 66, sustains a net operating loss (NOL) of $15,000 for 2017. Because Ruth had no taxable income in 2015, the loss is carried back to 2016. For 2016, the joint income tax return of Ruth and her husband was as follows:

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The Answer of Ruth, age 66, sustains a net operating loss (NOL) of $15,000 for 2017. Because Ruth had no taxable income in 2015, the loss is carried back to 2016. For 2016, the joint income tax return of Ruth and her husband was as follows:

Ruth, Age 66, Sustains a Net Operating Loss (NOL) of $15,000