Bonita earns $31,000 from her job, and she has $1,000 of interest income. She has...
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Accounting
Bonita earns $31,000 from her job, and she has $1,000 of interest income. She has itemized deductions and personal exemptions of $35,000. There are no casualty or theft losses in the itemized deductions. What is Bonita's net operating loss for the current year?
a. $0
b. $1,000
c. $3,000
d. $4,000
e. Some other amount
Please show your calculations and explain why you chose your answer. Thank you.
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