Billy earned $42,000 in 2020 of AGI before considering the following insured casualty losses from separate events. Asset A was damaged in a federal disaster area.

Fair Market Value

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Asset Adjusted Basis Before After Insurance Recovery

____________________________________________________________________________________________________________________________________________________ A (personal) $9,200 $8,000 $1,000 $2,000

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B (business) $3,000 $4,000 $0 $4,000

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C (personal) $3,700 $1,700 $0 $900

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A. Calculate Billy's casualty resuslts from these incidents.

B. Calculate the combined impact to Billy's tax return.

Please show calculations and explain.