Elizabeth has the following items for the current year: In calculating Elizabeth's net operating loss,and with respect to the above amounts only,what amount must be added back to taxable income (loss)?

Question

Elizabeth has the following items for the current year:  In calculating Elizabeth's net operating loss,and with respect to the above amounts only,what amount must be added back to taxable income (loss)?

Quizplus · Accepted Answer

Based on the information given, we cannot determine Elizabeth's taxable income or loss for the year. Therefore, we cannot calculate her net operating loss. However, we can determine what amount must be added back to taxable income (loss) based on the given item. The item "11ea87f0_aca5_5abb_8b86_29867f2aeca1_TB4131_00" may represent a tax deduction or other type of adjustment that would need to be added back to taxable income (loss) when calculating the net operating loss. The amount of this adjustment is not provided, but the only option that includes an amount to be added back is C ($2,000). Therefore, the best choice is C.

Elizabeth Has the Following Items for the Current Year