Score: 0 of 1 pt 70110 (7 complete) Hw Score: 35.51%, 3.55 of 10 pts Pl:8-48 (similar to) E Question Help Teddy is a carpenter who owns his on furniture manufacturing business. During Although he could not obtain its fair market value after the casualties, Teddy the current year, a tornado (a federally declared disaster) damaged several pieces of equipment and destroyed his delivery truck and his personal automobile, which he often kept in the workshop garage. The asset descriptions and related values are as foliows decided to repair rather than replace Equipment C.Before considering any deductions because of these casualties, Teddy's AGI is $85,000 Requirement What deductions may Teddy take relating to these losses? (Click the icon to view the descriptions and values.) First complete the first portion of the analysis to determine the net business casualty loss deduction Teddy may take. In the following step, determine the personal casualty loss deduction Teddy may take relating to the tornado. (Enter a loss with a minus sign or parentheses. Complete all nput fields. Enter a "0" for any zero balances.) Cost to Repair/ReplaceBasis Adjusted Insurance Casuality Gain Asset FMV Before FMV After (Loss) Equipment A 13,800s 6,500 Equipment B Equipment C Not Available Not Available Delivery Truck Net business casualty loss deduction 8,100 S 8,700 1,900 2,900 14,900 12,100 7,600 10,500 11,100 9,100 14,400 31,000 8,600 13,000 Enter any number in the edit fields and then click Check Answer Check Answer Clear All remaining i More Info FMV Before Casualty FMV After Casualty Cost to Repair/Replace Asset Adjusted Basis Insurance Proceeds Equipment A S Equipment B Equipment C Delivery Truck Automobile 13,800 $ 8,100 $ 9,100 14,400 6,500 $ 8,700 $ 1,900 8,600 7,600 10,500 11,100 7,000 0 2,900 14,900 12,100 25,000 Not Available Not Available 13,000 31,000 as 8,000 7,000 Print Done wer Score: 0 of 1 pt 70110 (7 complete) Hw Score: 35.51%, 3.55 of 10 pts Pl:8-48 (similar to) E Question Help Teddy is a carpenter who owns his on furniture manufacturing business. During Although he could not obtain its fair market value after the casualties, Teddy the current year, a tornado (a federally declared disaster) damaged several pieces of equipment and destroyed his delivery truck and his personal automobile, which he often kept in the workshop garage. The asset descriptions and related values are as foliows decided to repair rather than replace Equipment C.Before considering any deductions because of these casualties, Teddy's AGI is $85,000 Requirement What deductions may Teddy take relating to these losses? (Click the icon to view the descriptions and values.) First complete the first portion of the analysis to determine the net business casualty loss deduction Teddy may take. In the following step, determine the personal casualty loss deduction Teddy may take relating to the tornado. (Enter a loss with a minus sign or parentheses. Complete all nput fields. Enter a "0" for any zero balances.) Cost to Repair/ReplaceBasis Adjusted Insurance Casuality Gain Asset FMV Before FMV After (Loss) Equipment A 13,800s 6,500 Equipment B Equipment C Not Available Not Available Delivery Truck Net business casualty loss deduction 8,100 S 8,700 1,900 2,900 14,900 12,100 7,600 10,500 11,100 9,100 14,400 31,000 8,600 13,000 Enter any number in the edit fields and then click Check Answer Check Answer Clear All remaining i More Info FMV Before Casualty FMV After Casualty Cost to Repair/Replace Asset Adjusted Basis Insurance Proceeds Equipment A S Equipment B Equipment C Delivery Truck Automobile 13,800 $ 8,100 $ 9,100 14,400 6,500 $ 8,700 $ 1,900 8,600 7,600 10,500 11,100 7,000 0 2,900 14,900 12,100 25,000 Not Available Not Available 13,000 31,000 as 8,000 7,000 Print Done wer