Score: 0 of 1 pt s of 8 (6 complete) HW Score: 68 75%, 55 of 8 pts Pl:8-48 (similar to) Question Help * Tuck is a carpenter who owns his own furniture manufacturing business. During Although he could not obtain its fair market value after the casualties, Tuck the current year, a tormado (a federally declared disaster) damaged several pieces decided to repair rather than replace Equipment C. Before considering any of equipment and destroyed his delivery truck and his personal automobile, which deductions because of these casualties, Tuck's AGI is $45,000 he often kept in the workshop garage. The asset descriptions and related values are as follows 0 (Click the icon to view the descriptions and values ) Requirement What deductions may Tuck take relating to these losses? First complete the first portion of the analysis to determine the net business casualty loss deduction Tuck may take. In the following step, determine the personal casualty loss deduction Tuck may take relating to the tormado. (Enter a loss with a minus sign or parentheses Complete all input fields Enter a "0" for any zero balances) Adjusted Insurance Casualty Gain Asset FMV Before FMV After Repair Replace Basis Proceeds 10,300 11.500S 4,600 Equipment A S 13,600S3,500 s Equipment B Equipment C Not Available Not Available Delivery Truck Net business casualty loss deduction 8,200 3,400 16,200 15,100 5,900 11,000 12,700 Not Available Not Available 14500 16.2001000 16,000 32,000 Enter any number in the edit fields and then click Check Answer Check Answer Clear All remaining Requirement to view the descriptions and values) What deductions may Tuck take relating to these losses?) first portion of the analysis to determine the net business casualty loss deduction Tuck may take In the following step, determine th ction Tuck may take relating to the tornado. (Enter a loss with a minus sign or parentheses Complete all input fields. Enter a 0 for More Info FMV Before Casualty FMV After CasualtyRepairReolace Asset Adjusted Basis Insurance Equipment A Equipment B Equipment C Delivery Truck Automobile 11 500 $ 3,400 16.200 15,100 20.000 4,600 5,900 11,000 12.700 4,500 13,600 $ 8,200 3,500 s 10,300 S 9000 14 .500 32.000 4,500 Not Available Not Available 16.000 6,000 Print Done Check Answe Clear A Score: 0 of 1 pt s of 8 (6 complete) HW Score: 68 75%, 55 of 8 pts Pl:8-48 (similar to) Question Help * Tuck is a carpenter who owns his own furniture manufacturing business. During Although he could not obtain its fair market value after the casualties, Tuck the current year, a tormado (a federally declared disaster) damaged several pieces decided to repair rather than replace Equipment C. Before considering any of equipment and destroyed his delivery truck and his personal automobile, which deductions because of these casualties, Tuck's AGI is $45,000 he often kept in the workshop garage. The asset descriptions and related values are as follows 0 (Click the icon to view the descriptions and values ) Requirement What deductions may Tuck take relating to these losses? First complete the first portion of the analysis to determine the net business casualty loss deduction Tuck may take. In the following step, determine the personal casualty loss deduction Tuck may take relating to the tormado. (Enter a loss with a minus sign or parentheses Complete all input fields Enter a "0" for any zero balances) Adjusted Insurance Casualty Gain Asset FMV Before FMV After Repair Replace Basis Proceeds 10,300 11.500S 4,600 Equipment A S 13,600S3,500 s Equipment B Equipment C Not Available Not Available Delivery Truck Net business casualty loss deduction 8,200 3,400 16,200 15,100 5,900 11,000 12,700 Not Available Not Available 14500 16.2001000 16,000 32,000 Enter any number in the edit fields and then click Check Answer Check Answer Clear All remaining Requirement to view the descriptions and values) What deductions may Tuck take relating to these losses?) first portion of the analysis to determine the net business casualty loss deduction Tuck may take In the following step, determine th ction Tuck may take relating to the tornado. (Enter a loss with a minus sign or parentheses Complete all input fields. Enter a 0 for More Info FMV Before Casualty FMV After CasualtyRepairReolace Asset Adjusted Basis Insurance Equipment A Equipment B Equipment C Delivery Truck Automobile 11 500 $ 3,400 16.200 15,100 20.000 4,600 5,900 11,000 12.700 4,500 13,600 $ 8,200 3,500 s 10,300 S 9000 14 .500 32.000 4,500 Not Available Not Available 16.000 6,000 Print Done Check Answe Clear A
