Ikito had a bad year.In 2013,his home was broken into and his TV,DVD,VCR and computer were all stolen.The properties had a basis of $15,000 and a current fair market value of $9,000.Later that year,his car was hit by a garbage truck.It cost Ikito $9,000 to have the car repaired.Ikito didn't believe in insurance,so he received no reimbursements.In addition,the garbage company filed for bankruptcy after the accident.How much may Ikito deduct as an itemized deduction in 2013 if his AGI is $68,000?

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The Answer of Ikito had a bad year.In 2013,his home was broken into and his TV,DVD,VCR and computer were all stolen.The properties had a basis of $15,000 and a current fair market value of $9,000.Later that year,his car was hit by a garbage truck.It cost Ikito $9,000 to have the car repaired.Ikito didn't believe in insurance,so he received no reimbursements.In addition,the garbage company filed for bankruptcy after the accident.How much may Ikito deduct as an itemized deduction in 2013 if his AGI is $68,000?

Ikito Had a Bad Year