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During the year, Rick had the following insured personal casualty losses arising from one casualty. Calculate the casualty loss amount for each of the following

During the year, Rick had the following insured personal casualty losses arising from one casualty. Calculate the casualty loss amount for each of the following items. (Fill in the blanks). Fair market Fair market Asset Adjusted basis Before After Recovery Loss A. $ 400 730 300 70 $ ______ B. $4,500 3,100 -0- 1,400 $ ______ C. $ 740 930 -0- 110 $ ______ D. $ 650 830 300 70 $ ______ If Ricks AGI for the year is $18,000. How much is his casualty loss deduction after limitations?

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