During 2019, Pam incurred the following casualty losses:

All of the items were destroyed in the same casualty, which resulted from a federally declared disaster. Before considering the casualty items, Pam reports business income of $80,000, qualified residential interest of 56,000 property taxes on her personal residence of $2,000, and charitable contributions of $4,000. Compute Pam's taxable income for 2019. Pam is single.

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FMV Before FMV After Basis Insurance Asset $18,000 25,000 20,000 12,000 8,000 9,000 $15,000 8,000 18,000 20,000 10,000 $ 4,000 3,000 19,000 2,000 Business 1 Business 2 Business 3 Personal 1 Personal 2 10,000 5,000 Personal 3 6,000 8,000