3a. 3b. Jinhee purchased a ticket to a concert to raise money for the local university. The ticket cost $435, but the normal cost of a ticket to this concert is $120. How much is deductible as a charitable contribution? In 2020, the Redfeather's vacation cottage was severely damaged by an earthquake in a location that was a Presidentially Declared Disaster area. They had an AGI of $110,000 in 2020, and following is information related to the cottage: Cost basis $ 95,000 FMV before casualty 135,000 FMV after casualty 20,000 The Redfeather's had insurance and received an $80,000 insurance settlement. What is the amount of allowable casualty loss deduction for the Redfeather's in 2020 before the AGI and event limitation