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Lena Owns a Restaurant Which Was Damaged by a Tornado

Question 197

Multiple Choice

Lena owns a restaurant which was damaged by a tornado. The following assets were partially destroyed: Lena owns a restaurant which was damaged by a tornado. The following assets were partially destroyed: Lena has AGI of $50,000. What is the amount of Lena's deductible casualty loss? A) $54,900 B) $70,000 C) $60,000 D) $180,000 Lena owns a restaurant which was damaged by a tornado. The following assets were partially destroyed: Lena has AGI of $50,000. What is the amount of Lena's deductible casualty loss? A) $54,900 B) $70,000 C) $60,000 D) $180,000 Lena has AGI of $50,000. What is the amount of Lena's deductible casualty loss?


A) $54,900
B) $70,000
C) $60,000
D) $180,000

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