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Business, 01.07.2019 18:20 ortegamagellynt

In 2018, wally had the following insured personal casualty losses (arising from one casualty declared as a federal disaster area). wally also had $42,000 agi for the year before considering the casualty. fair market value insurance asset adjusted basis before after recovery a $9,200 $8,000 $1,000 $2,000 b 3,000 4,000 0 4,000 c 3,700 1,700 0 900 wally's casualty loss deduction is: a. $1,600. b. $1,500. c. $4,800. d. $500. e. none of these choices are correct.

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