QUESTIONS Keith had a car accident in 2020 in which his car was completely destroyed. At the time of the accident, the car had a fair market value of $30,000 and adjusted basis of $40,000. Keith used the car 100% of the time for business use. He received an insurance recovery of 100% of de value of the car at the time of the accident. Keith's AGT for the year is $60,000, determine his deductible loss on the car. a $900 O b. $2,900 O c $10,000 d. $19,000 e. None of the above. QUESTION 9 Thad's car, which he uses 100% for personal purposes, was completely destroyed in an accident in 2020. The car's adjusted basis at the time of the accident was $13,000. Its fair market value was $10,000. The car was covered by a $2,000 deductible insurance policy. His adjusted gross income was $14,000 (before considering the loss). What is Thad's deductible loss? O a. $9,500 b. $500 C$100 Od. So e. None of the above