LO 5.5 19. Wilbur DuVal has an apartment full of antique furniture. A fire in the apartment destroys a large part of his furnishings. The destroyed furnishings had a fair market value of $40,000, and Wilbur’s original basis in the furnishings was $33,750. He recovers

$13,000 from his insurance company. Wilbur’s adjusted gross income for 2010 is

$43,000. Use Form 4684 on pages 5-39 and 5-40 to report Wilbur’s loss.