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Olaf lives in the state of Minnesota. In May 2 0 2 3 , a tornado hit the area and damaged his home and automobile.

Olaf lives in the state of Minnesota. In May 2023, a tornado hit the area and damaged his home and automobile. Applicable information is as follows:
\table[[Item,\table[[Adjusted],[Basis]],\table[[FMV],[before]],\table[[FMV],[after]],\table[[Insurance],[Proceeds]]],[Home,$350,000,$500,000,$100,000,$280,000
Olaf lives in the state of Minnesota. In May 2023, a tornado hit the area and damaged his home and automobile. Applicable information is as follows:
\table[[Item,\table[[Adjusted],[Basis]],\table[[FMV],[before]],\table[[FMV],[after]],\table[[Insurance],[Proceeds]]],[Home,$350,000,$500,000,$100,000,$280,000
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