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Janice had an accident in her personal car. The other cars driver was cited for reckless driving. An appraisal established that the fair market value
Janice had an accident in her personal car. The other cars driver was cited for reckless driving. An appraisal established that the fair market value of Janices car declined by $6000 as a result of the accident. Her basis $500. If Janices AGI for the year was $20000, determine her deductible casualty loss on the car.
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