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In 2017, Lisa calculated a ($46,473) NOL on her Form1045, Schedule A. Lisa wants...

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Accounting

In 2017, Lisa calculated a ($46,473) NOL on her Form1045, Schedule A. Lisa wants to carryback her 2017 NOL to 2015. In2015, Lisa filed single, had no dependents, took the standarddeduction, and her AGI reported on her Form 1040, line 37, was$63,196. Lisa's 2015 income tax was $9,013 and her 2015self-employment tax was $9,608.
Using Form 1045, pages 1 and 2, carryback Lisa's 2017 NOL to 2015and calculate her refund.
$8,360.  
$8,365.  
$8,370.  
$8,375.

Answer & Explanation Solved by verified expert
3.9 Ratings (582 Votes)
Income Tax in 2015 AGI before Standard deduction 6319600 Less Standard deduction As per federal tax rates in 2015 630000 Less Personal ExemptionAs per federal tax rates in 2015 400000 Taxable Income 5289600 Tax rate    See Answer
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Transcribed Image Text

In: AccountingIn 2017, Lisa calculated a ($46,473) NOL on her Form1045, Schedule A. Lisa wants to...In 2017, Lisa calculated a ($46,473) NOL on her Form1045, Schedule A. Lisa wants to carryback her 2017 NOL to 2015. In2015, Lisa filed single, had no dependents, took the standarddeduction, and her AGI reported on her Form 1040, line 37, was$63,196. Lisa's 2015 income tax was $9,013 and her 2015self-employment tax was $9,608.Using Form 1045, pages 1 and 2, carryback Lisa's 2017 NOL to 2015and calculate her refund.$8,360.  $8,365.  $8,370.  $8,375.

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