In 2021, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $252,500. The casualty...

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In 2021, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $252,500. The casualty was attributable to a Federally declared disaster. How much of the casualty loss will be deductible by Wilson under the following circumstances? a. Wilson is an individual proprietor and has AGI of $631,250. The casualty loss was a personal loss, and the insurance recovered was $138,875 before any limitations. Wilson can claim a casualty loss as an itemized deduction of $ b. Assume Wilson is a corporation, and the insurance recovered was $138,875 before any limitations. Wilson can deduct s In 2021, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $252,500. The casualty was attributable to a Federally declared disaster. How much of the casualty loss will be deductible by Wilson under the following circumstances? a. Wilson is an individual proprietor and has AGI of $631,250. The casualty loss was a personal loss, and the insurance recovered was $138,875 before any limitations. Wilson can claim a casualty loss as an itemized deduction of $ b. Assume Wilson is a corporation, and the insurance recovered was $138,875 before any limitations. Wilson can deduct s