Question 18.18. Which of the following is most likely not considered a casualty? (Points : 4)

Fire loss Water damage caused by a busted water heater Death of a pine tree due to a two-day infestation of pine beetles Water damage to the walls and ceiling of a taxpayer's personal residence as the result of gradual deterioration of the roof

Question 19.19. Constance, who is single, is in an automobile accident in 2013, and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Constance does not expect to recover any of the loss from her insurance company. Constance's 2013 AGI is $31,000. Her casualty loss is $3,000; she has other itemized deductions of $1,200. In 2014, Constance's insurance company reimburses her $2,800. Constance's 2014 AGI is $28,000. As a result, Constance must (Points : 4)

amend the 2013 return to show the $200 loss. do nothing and simply keep the $2,800. amend the 2013 return to show $0 loss and file her 2014 return to show $200 loss. do nothing to the 2013 return but report $2,800 of income on her 2014 return.

Question 20.20. Tyne is a 48-year-old an unmarried taxpayer who is not an active participant in an employer-sponsored qualified retirement plan. Before IRA contributions, her AGI is $61,000 in 2013. What is the maximum amount she may contribute to a tax deductible IRA? (Points : 4)

$ -0- $4,400 $5,500 $6,500