Question: Exercise 7-26 (Algorithmic) (10.4) Belinda was involved in a boating accident in 2020. Her speedboat, which was used only for personal use and had a

Exercise 7-26 (Algorithmic) (10.4) Belinda was involved in a boating accident in 2020. Her speedboat, which was used only for personal use and had a fair market value of $30,000 and an adjusted basis of $15,000, was completely destroyed. She received $10.500 from her insurance company. Her Act for 2020 is $37,500. Belinda's tentative casualty loss before any limitations (.e. $100 floor and AGI) is Is her loss currently deductible

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