This year Sheila's income
Chapter20: Corporations And Partnerships
Section: Chapter Questions
Problem 6CPA
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Question
This year Sheila's income from her partnership is $225.000 Sheila's business deductions from the partnership total $440,000. Sheila also earns $170,000 of W-2 income and has $65,000 of investment income What is the amount of the excess business loss that is carried forward as a NOL?
A.$0
B. $150.000
C. $200.000
D. $216.000
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