39 . Lucianna sustained a $10,000 casualty loss due to a severe storm. She also incurred a...
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39. Lucianna sustained a $10,000 casualty loss due to a severe storm. She also incurred a $2,000 loss from a theft in the same year. Both the casualty and theft involved personal-use property. The losses were not due to her area being declared a Federal Disaster Area. Lucianna's AGI for the year is $32,000 and she does not have insurance coverage. Lucianna's deductible casualty loss for 2018 is
A) $0.
B) $2,200.
C) $2,600.
D) $4,800.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: