Problem on income tax return


What was Betsy's 2013 Net Operating Loss amount assuming that she had the following items listed on her income tax return?

Business Income $50,000
Interest income on personal investments $5,000
Less: Business Expenses ($70,000)
Less: Personal exemption ($3,900)
Less: Nonbusiness deductions ($7,000)
Loss shown on return ($25,900)

a. $0

b. $10,000

c. $20,000

d. $25,900

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Accounting Basics: Problem on income tax return
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