Multiple Choice
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
Correct Answer:
Verified
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