Keri Is a Single Taxpayer and Has a Net Operating

question 39

Essay

Keri is a single taxpayer and has a net operating loss of $30,000 in 2016. Her taxable income for the last 5 years has been about $10,000 each year. She expects 2017 to be a very good year and projects that her income will be over $100,000. If you were Keri's tax advisor, what would you recommend that she do with her 2016 operating loss? Explain.

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Definitions:

Cell Body

The part of a neuron that contains the nucleus and most of the cytoplasm and organelles, serving as the metabolic center of the neuron.

Skeletal Muscle

Skeletal muscle is a type of muscle tissue that is attached to bones and is responsible for voluntary movements in the body.

Bones

Rigid organs that constitute part of the endoskeleton of vertebrates, supporting body structures and facilitating movement.

Large Arteries

Blood vessels that carry oxygen-rich blood away from the heart to various parts of the body, characterized by their large diameter and elastic walls.