Belinda was involved in a boating accident in 2019. Her speedboat, which was used only for personal use and had a fair market value of $49,600 and an adjusted basis of $24,800, was completely destroyed. She received $17,360 from her insurance company. Her AGI for 2019 is $62,000. Belinda's tentative casualty loss before any limitations (.e. $100 floor and AGI) is 1,140 x Is her loss currently deductible? Only to the extent the loss can offset other personal casualty gains. Feedback Check My War The rules for determining the amount of a loss depend in part on whether business use, Income-producing use, or personal use property was Involved. Another factor that must be considered is whether the property was partially or completely destroyed