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Business, 31.10.2019 07:31 mamieengler

In 2018, grant’s personal residence was completely destroyed by fire. grant was insured for 100% of his actual loss, and he received the insurance settlement. grant had adjusted gross income, before considering the casualty item, of $30,000. pertinent data with respect to the residence follows: cost basis $280,000value before casualty 250,000value after casualty what is grant's allowable casualty loss deduction? (a) $10,000(b) $6,900(c) $80,000(d) $6,500(e) $0

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