In February 2019,the Storage Building Used in Amelia's Business Is

Multiple Choice

In February 2019,the storage building used in Amelia's business is damaged by a windstorm.It had an adjusted basis of $150,000 at that time.Due to changing insurance companies,the building had been appraised recently,with a resulting FMV of $200,000.After the storm,the building appraised at $120,000.Amelia has received no insurance reimbursement by December 31,but expects to recover 90 percent of the loss.In the subsequent year,the insurance company pays Amelia $50,000.Amelia's AGI is $85,000 in 2019,and her 2020 AGI is $80,000.Amelia suffers no other casualty losses in either year.Amelia may deduct

A) $0 loss in 2019 and $30,000 loss in 2020.
B) $8,000 loss in 2019 and $22,000 loss in 2020.
C) $30,000 loss in 2019 and $0 in 2020.
D) $80,000 loss in 2019 and $50,000 gain in 2020.