During 2023, Pam incurred the following casualty losses: All of the items were destroyed in the same

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During 2023, Pam incurred the following casualty losses:

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All of the items were destroyed in the same casualty, which resulted from a federally declared disaster. 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 2023. Pam is single.

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Pearsons Federal Taxation 2024 Individuals

ISBN: 9780138238100

37th Edition

Authors: Mitchell Franklin, Luke E. Richardson

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