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Beth and Bob are married entrepreneurs. Beth has a start-up sole proprietorship in which she works long hours. This year the business generated $500,000 of revenues and $800,000 of deductible business expenses. Bob is a partner in a new partnership, also working long hours. His share of the partnership loss for the year is $275,000. Fortunately, they both have trust funds so they are receiving $700,000 of taxable interest income and dividends. Due to this year's results, Beth and Bob will have an NOL carryover of:
A. $75,000.B. $325,000.C. $575,000.D. $0.
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Beth and Bob are married entrepreneurs. Beth has a start-up sole proprietorship in which she works l...
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