During 2016, Pam incurred the following casualty losses:

All of the items were destroyed in the same casualty. Before considering the casualty items, Pam reports business income of $80,000, qualified residential interest of $6,000 property taxes on her personal residence of $2,000, and charitable contributions of $4,000. Compute Pam's taxable income for 2016. Pam is single.

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Asset FMV Before FMVAfter Basis Insurance Business 1 Business2 Business 3 Personal1 Personal 2 Personal3 $18,000 25,000 20,000 12,000 8,000 9,000 $ 0 $15,000 4,000 3,000 19,000 0 20,000 2,000 0 8,000 10,000 0 8,000 18,000 5,000 0 10,000 6,000