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Question 4 2 pts Lena owns a restaurant which was damaged by a tornado. The following assets were partially destroyed: Basis Reduction in FMV Insurance
Question 4 2 pts Lena owns a restaurant which was damaged by a tornado. The following assets were partially destroyed: Basis Reduction in FMV Insurance Payment Building $150,000 $200,000 $100,000 Equipment $30,000 $20,000 $10,000 Lena has AGI of $50,000. What is the amount of Lena's deductible casualty loss? $54,900 $60,000 $70.000 $180.000
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