In 2017, David had total nonbusiness income of $4,012. His 2017 adjustments and
ID: 2438088 • Letter: I
Question
In 2017, David had total nonbusiness income of $4,012. His 2017 adjustments and deductions include:State tax withheld on salary of $574
Employee business expenses of $1,274
Property taxes of $341
Real estate tax of $2,847
Mortgage interest of $3,471
Alimony paid of $5,936
Casualty loss of $2,825
Using the adjustments and deductions listed above, compute David's net operating loss (NOL) nonbusiness deductions in excess of nonbusiness income modification. $4,743. $6,597. $7,584. $8,583. In 2017, David had total nonbusiness income of $4,012. His 2017 adjustments and deductions include:
State tax withheld on salary of $574
Employee business expenses of $1,274
Property taxes of $341
Real estate tax of $2,847
Mortgage interest of $3,471
Alimony paid of $5,936
Casualty loss of $2,825
Using the adjustments and deductions listed above, compute David's net operating loss (NOL) nonbusiness deductions in excess of nonbusiness income modification.
Explanation / Answer
Non business income 4012 Less: non business deduction Property taxes of $341 341 Real estate tax of $2,847 2847 Mortgage interest of $3,471 3471 Alimony paid of $5,936 5936 12595 Non business deduction over non business income -8583 Option D
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