During 2023, Sharon incurred the following casualty losses: View the casualty losses. View the standard deduction amounts. Requirement Compute Sharon's taxable income for 2023. Sharon is single.. Asset Complete the first portion of the analysis to determine the net loss on business property. In the following step, complete the analysis to determine the net loss on nonbusiness property. (Enter a loss with a minus sign or parentheses.) FMV Before FMV ter Basis Insurance Casualty Gain (Loss) (5,000) (10,000) 4,000 (11,000) (5,000) (5,000) 7,000 Business 1 Business 2 Business 3 $ Net loss on business property Personal 1 Personal 2 16,000 $ 30,000 19,000 15,000 10,000 9,000 Net loss on personal property Minus: Nondeductible floor Personal 3 View the additional information. 0 $ 10,000 0 0 5,000 0 12,000 $ 13,000 18,000 ... 16,000 6,000 4,000 7,000 $ 3,000 22,000 $ 10,000 $ 0 11,000 $ $ (3,000) (100) (2,900) Net loss on nonbusiness property Now calculate Sharon's taxable income for 2023. (Complete all input fields. If no casualty loss is allowed select the Inhol

During 2023 , Sharon incurred the following casualty losses: View the casualty losses. View the additional information. View the standard deduction amounts. Requirement Compute Sharon's taxable income for 2023. Sharon is single. Complete the first portion of the analysis to determine the net loss on business property. In the following step, complete the analysis to determine the net loss on nonbusiness property. (Enter a loss with a minus sign or parentheses.) Now calculate Sharon's taxable income for 2023. (Complete all input fields. If no casualty loss is allowed, select the label and enter " 0 " for the amount.) Casualty Losses Additional Information All of the items were destroyed in the same casualty, which resulted from a federally declared disaster. Before considering the casualty items, Sharon reports business income of $60,000, qualified residential interest of $6,500, property taxes on her personal residence of $5,000, and charitable contributions of $3,000. Standard Deduction Amounts During 2023 , Sharon incurred the following casualty losses: View the casualty losses. View the additional information. View the standard deduction amounts. Requirement Compute Sharon's taxable income for 2023. Sharon is single. Complete the first portion of the analysis to determine the net loss on business property. In the following step, complete the analysis to determine the net loss on nonbusiness property. (Enter a loss with a minus sign or parentheses.) Now calculate Sharon's taxable income for 2023. (Complete all input fields. If no casualty loss is allowed, select the label and enter " 0 " for the amount.) Casualty Losses Additional Information All of the items were destroyed in the same casualty, which resulted from a federally declared disaster. Before considering the casualty items, Sharon reports business income of $60,000, qualified residential interest of $6,500, property taxes on her personal residence of $5,000, and charitable contributions of $3,000. Standard Deduction Amounts