Belinda was involved in a boating accident in 2021. Her speedboat, which was used only for personal use and had a fair market value of $47,200 and an adjusted basis of $23,600, was completely destroyed. She received $16,520 from her insurance company. Her AGI for 2021 is $59,000. Belinda's tentative casualty loss before any limitations (i.e. $100 floor and AGI) is $ Is her loss currently deductible? Only to the extent the loss can offset other personal casualty gains. Feedback Check My Work 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.