An Individual Taxpayer Has Negative Taxable Income for the Year

question 19

Multiple Choice

An individual taxpayer has negative taxable income for the year.In calculating the net operating loss created,which of the following expenses or losses will be added back to the negative taxable income?

• A)capital losses
• B)personal and dependency exemptions
• C)nonbusiness deductions in excess of nonbusiness income
• D)all of the above

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Definitions:

Integumentary

Relating to the skin and its appendages, which serve as the body's largest organ and first line of defense against environmental hazards.

Skeletal

Relating to or functioning as a part of the skeleton, the internal framework of the body composed of bones and cartilage.

Immediate Responses

Quick reactions or adaptations by an organism or system immediately following a stimulus or change in the environment.

Nervous

Pertaining to the nervous system, which is a complex network of nerves and cells transmitting signals between different parts of the body.