Susan has the following items for 2015: ∙ Loss on rental property caused by termites-$110,000.Insurance covered 80% of the loss. ∙ Loss on personal use automobile-$10,000.The insurance policy does not cover the first $3,000 of loss.Susan decided not to file a claim for the loss. ∙ Loss on a painting stolen from Susan's house.Susan purchased the painting three years ago as an investment.She paid $40,000 for the painting and it was worth $35,000 at the time of the theft.The painting was insured for the fair market value. ∙ Salary-$40,000. Determine Susan's AGI and total amount of itemized deductions for 2015.

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The Answer of Susan has the following items for 2015: ∙ Loss on rental property caused by termites-$110,000.Insurance covered 80% of the loss. ∙ Loss on personal use automobile-$10,000.The insurance policy does not cover the first $3,000 of loss.Susan decided not to file a claim for the loss. ∙ Loss on a painting stolen from Susan's house.Susan purchased the painting three years ago as an investment.She paid $40,000 for the painting and it was worth $35,000 at the time of the theft.The painting was insured for the fair market value. ∙ Salary-$40,000. Determine Susan's AGI and total amount of itemized deductions for 2015.

Susan Has the Following Items for 2015: ∙ Loss on Rental