Answer:
Net operating loss = $(126,130)
Explanation:
Given:
Ordinary loss from operations = $77,050
Recaptured ordinary income = $5,920
Net Section 1231 loss = $55,000
Net capital loss = $7,840
Find:
Net operating loss
Computation:
Net operating loss = Ordinary loss from operations - Recaptured ordinary income + Net Section 1231 loss
Net operating loss = $77,050 - $5,920 + $55,000
Net operating loss = $(126,130)
