If you sustain a casualty loss, it must be reduced by what amounts? a. 15% of AGI b. 10% of AGI and $100 c. 20% of AGi d. 15% of AGI and $150 e. 5% of AGI and $50 f. 20% of AGI and $200 g. 10% of AGI h. 5% of AGI You incurred a penalty on your lateness on paying a payroll tax. This penalty is directly attributed to payroll and is figured on the amount of your payroll taxes. This penalty still is not a valid deduction. Select one: True False Shelley purchased a laptop computer for her personal use last year for $2,100. This year, she started her own business and transferred the computer to business use. The value of the computer at transfer was $1,300. What is Shelley's depreciable basis in her computer? Assume a three year life for computer and she transferred exactly one year after purchase. a. nothing you cant convert personal assets into business assets b. $2,100 c. $1,300 d. $1,400($2,100 less one year depr of $700) e. $700($2,100 less two year depr of $1,400)