Jack,age 30 and married with no dependents,is a self-employed individual.For 2012,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 the current year if he and his spouse file a joint return?

Question

Jack,age 30 and married with no dependents,is a self-employed individual.For 2012,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 the current year if he and his spouse file a joint return?

Quizplus · Accepted Answer

The Answer of Jack,age 30 and married with no dependents,is a self-employed individual.For 2012,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 the current year if he and his spouse file a joint return?

Jack,age 30 and Married with No Dependents,is a Self-Employed Individual