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

question 19

Multiple Choice

Akeem, who does not itemize, incurred a net operating loss (NOL) of $50,000 in 2018.His deductions in 2018 included AMT tax preference items of $20,000, and he had no AMT adjustments.What is Akeem's alternative tax NOL deduction (ATNOLD) carryover to 2019?

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

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.