In the current year, Wilson Enterprises, a calendar year taxpayer, suffers a casualty loss of $145,000. How much of the casualty loss will be deductible by Wilson under the following circumstances?

Wilson is an individual proprietor and has AGI of $362,500. The casualty loss was a personal loss, and the insurance recovered was $79,750 before any limitations.

1.Wilson can claim a casualty loss as an itemized deduction of ?

2. Wilson is a corporation, and the insurance recovered was $79,750 before any limitations.

Wilson can deduct ?