Stella, Age 38, Is Single with No Dependents Based on This Information, What Is Stella's Net Operating Loss

question 88

Multiple Choice

Stella, age 38, is single with no dependents.The following information was obtained from her personal records for the 2019 year. $$\begin{array} { l r } \text { Salary } & \$ 30,000 \\\text { Interest income } & 7,000 \\\text { Alimony received } & 12,000 \\\text { Individual retirement account contribution } & 2,000 \\\text { Home mortgage interest expense } & 4,000 \\\text { Property taxes } & 2,000 \\\text { Personal casualty loss in a Federal disaster area } & 38,000 \\\quad \text { (after the \$100 floor) } & \\\text { Stolen investment property }&16,000\end{array}$$ Based on this information, what is Stella's net operating loss for 2019?

• A)$0
• B)($7,200)
• C)($8,300)
• D)($13,000)
• E)None of these.

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