Determine the net deductible casualty loss on Schedule A for Alan Aaron when his adjusted gross income

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Determine the net deductible casualty loss on Schedule A for Alan Aaron when his adjusted gross income was $40,000 in 2018 and the following occurred: Asset A C Adj. Basis $1,200 14,000 600 FMV Before $2,000 12,000 3,000 FMV After $500 5,000 2,775 Insurance Reimbursement $100 1,100 125 All casualty losses were nonbusiness personal-use property loss and occurred in a federally declared disaster area

Posted Date: May 13, 2024 12:45 AM

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Determine the net deductible casualty loss on Schedule A for Alan Aaron when his adjusted gross income

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