Stella, age 38, is single with no dependents. The following information was obtained from her personal records for the 2019 year.
Salary$30,000
Interest income7,000
Alimony received12,000
Individual retirement account contribution2,000
Home mortgage interest expense4,000
Property taxes2,000
Personal casualty loss in a Federal disaster area (after the $100 floor)38,000
Stolen investment property16,000
?
Based on this information, what is Stella’s net operating loss for 2019?
A. $0
B. ($7,200)
C. ($8,300)
D. ($13,000)
E. None of these.
Answer: C
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