In 2022, Juan is involved in a traffic accident and his business vehicle sustains $20,000 in damage. The other driver, who is at fault, is uninsured and Juan does not expect to receive any reimbursement for his loss. Juan recognizes the casualty loss for his business use asset in 2022. In 2023, the other driver wins the lottery and fully reimburses Juan for the damage to the car. How should Juan report reimbursement received in 2023? ANSWER Unselected Juan should include $20,000 in gross income for 2023. Unselected Juan should amend his 2021 return and include $20,000 in gross income. Unselected Juan should amend his 2021 return and omit the casualty loss. Unselected Juan should include $10,000 in gross income for 2023