Which of the following is not a possible limitation on the deduction of a personal casualty loss? 

a.A $100 floor for each casualty event. 

b.A personal casualty not associated with a federally declared disaster. 

c.A 10 percent of AGI floor for all casualty losses during the year. 

d.The lesser of the fair market value of the property or the adjusted basis at the time of the loss. 

e.All of these choices are possible limitations on a personal casualty loss.

Answer rating: 100% (QA)

Correct answer E All of these choices are possible limitations on a personal casualty loss ... View the full answer