Akeem,who does not itemize,incurred a net operating loss (NOL)of $50,000 in 2013.His deductions in 2013 included AMT tax preference items of $20,000,and he had no AMT adjustments.Assuming the NOL is not carried back,what is Akeem's ATNOLD carryover to 2014?
A)$50,000
B)$30,000
C)$20,000
D)$40,000
E)None of these

Question

Quizplus · Accepted Answer

$50,000 NOL - $20,000 AMT preferences included in NOL = $30,000 ATNOLD.

Akeem,who Does Not Itemize,incurred a Net Operating Loss (NOL)of $50,000