Question
Franca has AGI of $130,000 this year. After applying the $100 floor, she has $26,000 of federal disaster losses on personal assets, $12,000 of nonfederal
Franca has AGI of $130,000 this year. After applying the $100 floor, she has $26,000 of federal disaster losses on personal assets, $12,000 of nonfederal casualty losses on personal assets, and $23,000 of personal casualty gains for the year. What is Franca's deductible casualty loss?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
