Question 5 (Chapter 7) Connor's house burns down in a wildfire. The wildfire was a federally-declared disaster. The fire destroyed one personal-use computer and damaged another personal-use computer. The destroyed computer was worth $8,000 at the time of the fire (Connor originally paid $9,000 for it). The damaged computer was worth $4,600 at the time of the fire and $3,000 after the fire (Connor originally paid $6,000 for it). Connor receives $6,000 in insurance proceeds for the destroyed computer and $100 in insurance proceeds for the damaged computer. Connor's AGI is $33,000. Question 5 (Chapter 7) Connor's house burns down in a wildfire. The wildfire was a federally-declared disaster. The fire destroyed one personal-use computer and damaged another personal-use computer. The destroyed computer was worth $8,000 at the time of the fire (Connor originally paid $9,000 for it). The damaged computer was worth $4,600 at the time of the fire and $3,000 after the fire (Connor originally paid $6,000 for it). Connor receives $6,000 in insurance proceeds for the destroyed computer and $100 in insurance proceeds for the damaged computer. Connor's AGI is $33,000