John had adjusted gross income of $60,000 in 2018.During the year his personal use summer home was damaged by a fire.Pertinent data with respect to the home follows: John had an accident with his personal use car.As a result of the accident, John was cited with reckless driving and willful negligence.Pertinent data with respect to the car follows:
What is John's itemized casualty loss deduction?
A)$0
B)$2,000
C)$17,000
D)$18,000
E)None of the above

Question

John had adjusted gross income of $60,000 in 2018.During the year his personal use summer home was damaged by a fire.Pertinent data with respect to the home follows:  John had an accident with his personal use car.As a result of the accident, John was cited with reckless driving and willful negligence.Pertinent data with respect to the car follows:
 What is John's itemized casualty loss deduction?
A)$0 
B)$2,000 
C)$17,000 
D)$18,000 
E)None of the above

Quizplus · Accepted Answer

The Answer of John had adjusted gross income of $60,000 in 2018.During the year his personal use summer home was damaged by a fire.Pertinent data with respect to the home follows:  John had an accident with his personal use car.As a result of the accident, John was cited with reckless driving and willful negligence.Pertinent data with respect to the car follows:
 What is John's itemized casualty loss deduction?
A)$0 
B)$2,000 
C)$17,000 
D)$18,000 
E)None of the above

John Had Adjusted Gross Income of $60,000 in 2018