Bonita earns $31,000 from her job, and she has $1,000 of interest income. She has itemized deductions of $35,000. There are no casualty or theft losses in the itemized deductions. What is Bonita's net operating loss for the current year a) $1000 a) $2000 a) $3000 a) $4000

Question

Deven Coffey

Business

1 May, 23:07

Bonita earns $31,000 from her job, and she has $1,000 of interest income. She has itemized deductions of $35,000. There are no casualty or theft losses in the itemized deductions. What is Bonita's net operating loss for the current year a) $1000 a) $2000 a) $3000 a) $4000

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Bridger Carey · Answer 1

A

Explanation:

Bonita earned the total of $32000 from both self employment and employment but has total costs of $35000, invariably her losses in the current period is $35000-$32000=$3000