Question

Kerry’s car is totaled in an auto accident. The car originally cost $18,000, but is worth $7,500 at the time of the accident. Kerry’s insurance company gives her a check for $7,500. Kerry has $30,000 of adjusted gross income. How much can Kerry claim as a casualty loss on her tax return? Please explain.
____________________________________________________________________________________________________________________________________________________________


$1.99
Sales4
Views250
Comments0
  • CreatedJuly 16, 2015
  • Files Included
Post your question
5000