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Solution: Salary from part-time employment Interest income from savings Net long-term capital gain from inv. A. $2,000 b. $5,000 c. $5,300 d. $9,450 a, p. I:8-31. Harley, a single individual, provided you with the following information for this year: Income: Salary from part-time employment $ 16,000 Interest income from savings 1,000 Net long-term capital gain from investment property 3,000 Deductions: Net business loss (sales of $100,000 less expenses of $120,000) ($20,000) Personal exemption ( 3,300) Standard deduction ( 5,150) Net-operating loss carryover from last year ( 3,000) What is the amount of Harley”s net operating loss for this year? A. $2,000 b. $5,000 c. $5,300 d. $9,450 a, p. I:8-31. I:8-86. Kendal reports the following income and loss: Salary Income from activity A Loss from activity B Loss from activity C Activities A, B, and C are all passive activities. What is the amount of the carryover attributable to each activity?
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