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Author Question: What is or are the standards that must be present to warrant a casualty loss deduction? (Read 52 times)

NClaborn

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on: Sep 13, 2020

Question 1

Wes owned a business which was destroyed by fire in May 2016. Details of his losses follow:


His AGI without consideration of the casualty is $45,000.

What is Wes's net casualty loss deduction for 2016?

Question 2

What is or are the standards that must be present to warrant a casualty loss deduction?
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by NClaborn on Sep 13, 2020

alexanderhamilton

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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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NClaborn

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

cam1229

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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