Albert and Alma are married. Prior to marriage Albert bought an

expensive piece of furniture. After the wedding it was damaged. Albert

wanted to discard it$,$ but Alma paid for all the repairs and moved it to her

office where she uses it exclusively. This is a commingled asset now.

Which is true?

A$)$ The furniture is still $\frac{50}{50}.$

B$)$ The furniture is community property.

C$)$ The furniture has no value.

D$)$ The furniture is $100\%$ Alma's.

Prior to the Tax Cut and Jobs Act, the amount of Real Estate$/$Property

Taxes, State income tax, and other local taxes that were deductible was

not limited$.$ With the Act, the amount was limited to $$10,000$ in what is

called the SALT Limit. California did not conform. What is the amount, if

any, that $CA$ does allow?

A$)$ $$0.$

B$)$ $$10,000.$

c$)$ No limit$.$

D$)$ $$15,500.$

The IRS suspended the casualty and theft loss deductions for all

taxpayers, except those in a federally declared disaster area. What is

California's position on this?

A$)$ California allows the entire amount of casualty or theft losses deduction to be

added to California itemized deductions.

B$)$ California has suspended all casualty and theft losses same as federal.

C$)$ California taxpayers will need to complete the federal Form $4684$ and Schedule

A$,$ then make adjustments on Schedule CA $(540)$ to see if casualty and theft

losses will be deductible.

D$)$ California taxpayers can add the amount of their casualty and theft losses to

their exemption amount on Form $540,$ line $32.$