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4 pts Question 2 Alfred, a plumber by trade, lives in Missouri. On August 15 of the current year, a tornado (declared a federal disaster)
4 pts Question 2 Alfred, a plumber by trade, lives in Missouri. On August 15 of the current year, a tornado (declared a federal disaster) damaged his tractor. Alfred had purchased the tractor 3 years earlier for $15,000. The FMV of the tractor was $22,000 before the damage and $3,000 afterward. The tractor was insured, and Alfred was reimbursed $5,400 for the damages. Alfred's adjusted gross income for the current year was $30,000. What amount can Alfred deduct as a casualty loss in the current year? $6,500 $6,600 $13,500 $0
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