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Author Question: Juanita, who is single, is in an automobile accident in 2016 and her car sustains $6,200 in damages. ... (Read 40 times)

c0205847

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on: Sep 13, 2020
Juanita, who is single, is in an automobile accident in 2016 and her car sustains $6,200 in damages.  Juanita does not expect to recover any of the loss from her insurance company. Juanita's 2016 AGI is $31,000, and she deducts a $3,000 loss on her 2016 tax return. Her other itemized deductions in 2016 exceed $12,000. In 2017, Juanita's insurance company reimburses her $2,800. Juanita's 2017 AGI is $28,000. As a result, Juanita must
◦ amend 2016 to show a $200 loss.
◦ do nothing and simply keep the $2,800.
◦ do nothing to the 2016 return but report $2,800 of income on her 2017 return.
◦ amend the 2016 return to show $0 loss and file her 2017 return to show a $200 loss.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by c0205847 on Sep 13, 2020

snackralk

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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c0205847

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

momolu

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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