Net Operating Loss. During 2019, Karen, a single taxpayer, reports the following income and expense.
Net Operating Loss. During 2019, Karen, a uncompounded taxpayer, reports the subjoined proceeds and payment items relating to her inside design business:
Karen also worked part-time during the year, earning $13,500 . She reports a long-term chief fabricate of $4,200, and a defective -term capita l missing of $3,800. Her itemized deductions whole $5,200 .
a. What is Karen's taxable proceeds or missing for the year?
b. What is Karen's NOL for the year?