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Problem 5-63 (LO 5-5) Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their home in

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Problem 5-63 (LO 5-5) Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their home in 2020, which was declared a Federally Designated Disaster Area. The flood damage ruined the furniture that was stored in their garage. The following items were completely destroyed and not salvageable: FHV Just Prior to Original Item Damaged Items Dane Cost (Basis) Antique poster bed $ 9,600 $ 5,800 Pool table 9,250 15,950 Flat-screen TV 1,600 5,650 Required: Their homeowner's insurance policy had a $12,430 deductible for the personal property, which was deducted from their insurance reimbursement of $17,650, resulting in a net payment or $5.220. Their AGI for 2020 was $37000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2020? Casually loss doduction Problem 5-61 (LO 5-4) Adrian contributed an antique vase she had owned for 25 years to a museum At the time of the donation, the vase had a value of $36,750. The museum displayed this vase in the art gallery Required: a. Assume that Adrian's AGI is $73,000, and her basis in the vase is $16.750. How much may Adrian deduct? b. How would your answer to Part (a) change it . Instead of displaying the vase, the museum sold the vase to an antique dealer? Charitable contribution deduction a b

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