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Determine sam taxable income

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Reference no: EM132104736

Question - Sam, age 45, is single. For 2015, he has the following items:

Business income $74,000

Business expenses $81,400

Alimony paid $11,100

Interest income $3,700

Itemized deductions $7,400

a. Determine Sam's taxable income for 2015.

b. Determine Sam's NOL for 2015.

Reference no: EM132104736

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