kooygi4184 kooygi4184

03-01-2023
Business

Answered

pascal's classic automobile was seriously damaged in an earthquake that was declared a federal disaster. unfortunately, his insurance paid only $12,000, while the fair market value before the earthquake was $30,000, and the value after the earthquake was $8,000. his basis in the automobile was $17,000. pascal's agi is $35,000. what is the amount, if any, of pascal's deductible casualty loss? a) $0 b) $6,000 c) $1,500 d) $1,400

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