Question: On December 1 9 , 2 0 2 4 , Maria's uninsured car was swept away in a flood caused by a federally declared major
On December Maria's uninsured car was swept away in a flood caused by a federally declared major disaster. Her adjusted basis in the vehicle is $ The fair market value of the vehicle at the time of the flood was $ On May of the same tax year, police recovered the vehicle. At that time, the fair market value of the vehicle was $ What is the amount of Maria's casualty loss prior to inclusion of the loss limitation and AGI deductions?
$
$
$
$
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