During 20, 2012 , Pam, a single taxpayer, reports the following income and expense items relating to her interior design business: Pam also worked part-time during the year, earning $13,500. She reports a long-term capital gain of $4200, and a short term capital loass of 3800. Her itemized deductions total 5200.
Revenues: 52,000
COGS: 41,000
Advertising: 3,300
Office Supplies: 1,700
Rent: 13,800
Contract Labor: 28,000
1. what is Pams taxable income or less of the year?
2. What is Pams NOL for the year?