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Jack, age 30 and married with no dependents, is a self-employed individual. for 2018, his self-employed business sustained a net loss from operations of $10,000. the following additional information was obtained from his personal records for the year:
nonbusiness long-term capital gain $ 2,000
interest income 6,000
itemized deductions—consisting of taxes and interest (26,000)
based on the above information, what is jack's net operating loss for 2018 if he and his spouse file a joint return?
a. ($8,000)
b. ($10,000)
c. ($28,000)
d. ($2,000)
e. ($25,000)
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Jack, age 30 and married with no dependents, is a self-employed individual. for 2018, his self-emplo...
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