Akeem, Who Does Not Itemize, Incurred a Net Operating Loss

question 118

Multiple Choice

Akeem, who does not itemize, incurred a net operating loss (NOL) of $50,000 in 2013. His deductions in 2013 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 2014?

• A) $50,000.
• B) $30,000.
• C) $20,000.
• D) $40,000.
• E) None of the above.

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Definitions:

Neurotic Personality

A personality type characterized by chronic anxiety, emotional instability, and a tendency towards internalized psychological distress.

Psychoanalytic Theory

A set of psychological and psychotherapeutic theories and techniques, which primarily focus on unconscious motivations and conflicts.

Psychoanalysis

A therapeutic approach developed by Freud that emphasizes exploring unconscious motivations and conflicts as a means of resolving psychological distress.

Primary Ego Rule

A fundamental principle in psychoanalytic theory referring to the ego's management and regulation of impulses and desires.