Problem $17-28($Algorithmic$)($LO$.1)$

In the current year, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $$180,000.$ The casualty was attributable to a Federally declared disaster. How much of the casualty loss will be deductible by Wilson under the following circumstances?

a$.$ Wilson is an individual proprietor and has AGI of $$450,000.$ The casualty loss was a personal loss, and the insurance recovered was $$99,000$ before any limitations$.$

Wilson can claim a casualty loss as an itemized deduction of $ $$

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b$.$ Assume Wilson is a C corporation, and the insurance recovered was $$99,000$ before any limitations$.$

Wilson can deduct $$