. A tornado damaged Louise's home on August 17, this year. To restore the destroyed property she paid the following amounts: $80,000 to repair the damage to the house. The house originally cost $70,000 and was worth approximately $90,000 at the time of the tornado. Louise filed a claim with her insurance company and received $65,000. She has AGI of $30,000.

110. The measure of the loss as the starting point of the calculation is:

a. $80,000

b. $70,000.

c. $90,000.

d. None of the above.

If this is a personal casualty loss (as distinguished from a business casualty loss), the loss to be deductible must exceed (in addition to what a business loss would need to exceed):

a.

a. $2,250.

b.

b. $3,100.

c.

c. $0.

d.

d. $600.

e.

e. None of the above.

For any of Louise's loss to be deductible it must be greater than:

	a.	a. $65,000.
	b.	b. $68,100.
	c.	c. $100.
	d.	d. $3,000.
	e.	e. None of the above.

Louise's deductible loss is:

	a.	a. $1,900.
	b.	b. $90,000.
	c.	c. $5,000.
	d.	d $3,000.
	e.	e. None of the above.

If the tornado also caused $2,000 damage to Louise's furniture and all other facts remained the same, the amount of Louise's deductible casualty loss would be:

	a.	a. $5,000.
	b.	b. $3,900.
	c.	c. $7,000.
	d.	d. $92,000.
	e.	e. None of the above.