John had adjusted gross income of $60,000.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.
Correct Answer:
Verified
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