Belinda was involved in a boating accident in 2017. her speedboat, which was used only for personal use and had a fair market value of $28,000 and an adjusted basis of $14,000, was completely destroyed. she received $10,000 from her insurance company. her agi for 2017 is $37,000. belinda's casualty loss deduction (after any limitations) is $ and is treated as a deduction.
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Home » Business » Belinda was involved in a boating accident in 2017. her speedboat, which was used only for personal use and had a fair market value of $28,000 and an adjusted basis of $14,000, was completely destroyed.