Ralph Sample had the following income and deductions listed on his 2018 income tax return:...
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Accounting
Ralph Sample had the following income and deductions listed on his 2018 income tax return:
Salary $25,150
Business income 65,000
Interest income on personal investments 10,000
Less: Business expenses 102,000
Less: Nonbusiness deductions 12,000
Loss shown on tax return $(13,850)
Compute the amount of Ralph's 2018 net operating loss.
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You can see the logs in the Dashboard.