Harley,a Single Individual,provided You with the Following Information for This

question 84

Essay

Harley,a single individual,provided you with the following information for this year:
Income:
$$\begin{array} { | l | r | } \hline \text { Salary from part-time employment } & \$ 16,000 \\\hline \text { Interest income from savings } & 1,000 \\\hline \text { Net long-term capital gain from investment property } & 3,000 \\\hline\end{array}$$ Deductions:
$$\begin{array}{|l|l|}\hline\text { Net business loss }\\\text { sales of } \$ 100,000 \text { less expenses of } \$ 130,000 ) & ( \$ 30,000 ) \\\hline \text { Standard deduction } & ( 12,200 ) \\\hline \text { Net-operating loss carryover from last year } & ( 3,000 )\\\hline\end{array}$$ What is the amount of Harley's net operating loss for this year?

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Definitions:

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