Bill,age 40,is Married with Two Dependents

question 82

Multiple Choice

Bill,age 40,is married with two dependents.Bill had the following items for the 2016 year:
Bill's business loss
($40,000)
Bill's salary
50,000
Personal casualty gains
5,000
Personal casualty loss (after $100 floor)
(23,000)
Other itemized deductions
(15,000)
​
Based on the above information,what is the net operating loss for Bill and his spouse for the 2016 year?

• A)$0
• B)($5,000)
• C)($7,000)
• D)($12,000)
• E)None of the above

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Definitions:

Nonroutine Collective Action

Unplanned, spontaneous group action that arises in response to an unexpected event, typically outside the norms of societal behavior.

Emergent Norms

Social norms that develop spontaneously in response to new situations or emergencies, guiding behavior in the absence of established rules.

Resource Mobilization

The process of gathering and deploying both tangible and intangible resources (such as money, support, and information) to achieve specific organizational or social goals.

Collective Action

Activities undertaken by a group of people with the aim of achieving a common goal, often used in the context of social movements and protests.