Steve and Holly Have the Following Items for the Current

question 46

Multiple Choice

Steve and Holly have the following items for the current year: $\begin{array}{lr}\text { Dividend income } & \$ 8,000 \\\text { Interest income } & 7,000 \\\text { Itemized deductions (none of the amount resulted from a casualty loss) } &(13,000) \\\text { Business capital gains } & 1,000\\\text { Business capital losses } & (5,000) \\\hline\end{array}$ In calculating their net operating loss,and with respect to the above amounts only,what amount must be added back to taxable income (loss) ?

• A)$0
• B)$1,300
• C)$2,000
• D)$3,000
• E)None of these

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Definitions:

Population Standard Deviation

A statistical measure indicating the spread or variability among values in a total population.

Confidence Level

The proportion of times that an estimating procedure will be correct if it is used repeatedly.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values diverge from the mean.

Confidence Level

The Confidence Level is the percentage that represents how often the true percentage of the population who would pick an answer lies within the confidence interval.