Can deductions for agi can be treated as nonbusiness

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8. Can deductions forAGI can be treated as nonbusiness deductions in
computing an individual's NOL?YES, because to arrive at the NOL for
8. Sam had purchased the car for $30,000. The automobile had a fair market value of $20,000 before the accident and $8,000 immediately after the accident. Sam has taken $20,000 of depreciation on the car. Marginal tax 35%
9. Sarah Ham, operating as a sole proprietor, manufactures printers in the United States. For 2016, the proprietorship has QPAI of $400,000. Sarah's modified AGI was $350,000. The W–2 wages paid by the proprietorship to employees engaged in the qualified domestic production activity were $60,000.Sarah's domestic production activities deduction (DPAD) for the year 2016 is $30,000
Chapter 4&51.Al is a medical doctor who conducts his practice as a sole proprietor. During 2016, he received cash of $280,000 for medical services. Of the amount collected, $40,000 was for services provided in 2015. At the end of 2016, Al had accounts receivable of $60,000, all for services rendered in 2016. In addition, at the end of the year, Al received $12,000 as an advance payment from a health maintenance organization (HMO)for services to be rendered in 2017 Cash basis: 280000+60000=292000. Accrual: 292000-12000-

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