Akeem,who does not itemize,incurred a net operating loss (NOL)of $50,000 in 2011.His deductions in 2011 included AMT tax preference items of $20,000,and he had no AMT adjustments.Assuming the NOL is not carried back,what is Akeem's ATNOLD carryover to 2012?

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Quizplus · Accepted Answer

Akeem's NOL is reduced by his AMT tax preference items, so his ATNOLD carryover to 2012 would be $50,000 - $20,000 = $30,000.

Akeem,who Does Not Itemize,incurred a Net Operating Loss (NOL)of $50,000