Locate and print Form 4684 (Casualties and Thefts). Enter the following information and complete the form to

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Locate and print Form 4684 (Casualties and Thefts). Enter the following information and complete the form to the extent possible: Howser Corporation, a calendar-year corporation, discovered in January that its bookkeeper (who was fired late last year) had embezzled $45,000 from the company. The theft was not covered by insurance. In October, a hurricane damaged its warehouse building in the Florida Keys. The building’s fair market values before and after the hurricane were $425,000 and $150,000, respectively. The basis of the building at the time of the damage was $235,000. Howser received only $200,000 from its insurance company due to its limited hurricane coverage.

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Taxation For Decision Makers 2019

ISBN: 9781119497288

9th Edition

Authors: Shirley Dennis Escoffier, Karen A. Fortin

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