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:

Standard Deviation

A parameter that captures the level of scattering or variation among values in a dataset.

Tips

Gratuity given to service workers in addition to the basic price for the service provided.

Conjunctive Adverbs

Words that help connect two clauses or sentences, providing a transition that indicates relation or sequence.

Conjunctions

Conjunctions are words that join together sentences, clauses, phrases, or words, serving as connectors in a sentence to improve flow and coherence.