b. Calculate Tim's deductible casualty loss if his AGI is $143,000

c. How would you answer a. if Tim received an additional $62,050 in interest from municipal bonds this year?

Required information The following information applies to the questions displayed below. Tim suffered greatly this year. In January a freak storm damaged his sailboat and in July Tim's motorcycle was stolen from his vacation home. Tim originally paid $27,250 for the boat, but he was able to repair the damage for $7,600. Tim paid $16,550 for the motorcycle, but it was worth $19,050 before it was stolen. Insurance reimbursed $1,920 for the boat repairs and the cycle was uninsured. a. Calculate Tim's deductible casualty loss if his AGI is $44,000