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:

Parkinson's Disease

A progressive neurological disorder characterized by movement difficulties, tremors, and stiffness, as well as non-motor symptoms.

Rigidity

The lack of flexibility or adaptability in thought processes, behaviors, or physical state.

Dementias

A group of conditions characterized by impairment of at least two brain functions, such as memory loss and judgment, severely affecting a person's daily life.