Javier Incurred a $40,000 Net Operating Loss in 2019

question 1

Multiple Choice

Javier incurred a $40,000 net operating loss in 2019.In 2020,he earned $35,000 of taxable income.Javier will be able to take an NOL deduction in 2020 of

• A)$35,000.
• B)$40,000.
• C)$28,000.
• D)$26,250.

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Definitions:

Sales Revenues

The income received from selling goods or services over a period of time before any costs or expenses are deducted.

Points of Difference

Unique attributes or benefits of a product or brand that set it apart from competitors in the eyes of customers.

High-Quality

The standard of something as measured against other things of a similar kind; the degree of excellence of something.

Quick Preparation

Referring to food or meals that are designed to be prepared and served in a short amount of time with minimal effort.