Reynaldo and Sonya, a married couple, had flood damage in their home due to a faulty water heater during 2010, which ruined the furniture in their garage. The following items were completely destroyed and not salvageable. 11eb79ad_0372_a44e_9598_f90f45c6dab2_SM1713_00 Their homeowner's insurance policy had a $10,000 deductible for the personal property, which was deducted from their insurance reimbursement of $12,700, resulting in a net payment of $2,700. Their AGI for 2010 was $30,000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2010?

Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

النسخة 4الرقم المعياري الدولي: 978-0078110993

Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

النسخة 4الرقم المعياري الدولي: 978-0078110993

تمرين 33

Reynaldo and Sonya, a married couple, had flood damage in their home due to a faulty water heater during 2010, which ruined the furniture in their garage. The following items were completely destroyed and not salvageable.

Their homeowner's insurance policy had a $10,000 deductible for the personal property, which was deducted from their insurance reimbursement of $12,700, resulting in a net payment of $2,700. Their AGI for 2010 was $30,000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2010?

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Income tax:
Every earner pays a tax on ...