Akeem,who Does Not Itemize,incurred a Net Operating Loss (NOL) of $50,000

question 71

Multiple Choice

Akeem,who does not itemize,incurred a net operating loss (NOL) of $50,000 in 2014.His deductions in 2014 included AMT tax preference items of $20,000,and he had no AMT adjustments.Assuming the NOL is not carried back,what is Akeem's ATNOLD carryover to 2015?

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

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Definitions:

Strict Liability Principles

Legal standards holding individuals or entities responsible for damages or harm caused by their actions, regardless of intent or negligence.

Workers' Compensation Acts

Laws providing financial compensation to employees who suffer injuries or illnesses as a result of their job.

Road Safety

Measures and methods taken to prevent road users from being killed or seriously injured.

Gas Station

A retail establishment that sells fuel and often other goods and services to motor vehicle users.