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Sam age 45 is single for 2013 he has the following items

Question - Sam, age 45, is single. For 2013, he has the following items:

Business income $70,000

Business expenses $75,000

Alimony paid $12,000

Interest income $3,000

Itemized deductions $8,000

A. Determine Sam's taxable income for 2013?

B. Determine Sam's NOL for 2013?

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Accounting Basics: Sam age 45 is single for 2013 he has the following items

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Accounting Basics: Sam age 45 is single for 2013 he has the following items

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