In February 2018, 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 2018, and her 2019 AGI is $80,000. Amelia suffers no other casualty losses in either year. Amelia may deduct
A. $30,000 loss in 2018 and $0 in 2019.
B. $8,000 loss in 2018 and $22,000 loss in 2019.
C. $0 loss in 2018 and $30,000 loss in 2019.
D. $80,000 loss in 2018 and $50,000 gain in 2019.
Answer: B
You might also like to view...
A manager decides to give a worker three days of unpaid leave for smoking in a dynamite factory. What kind of behavior shaping was provided here?
A. Positive reinforcement B. Negative reinforcement C. Alternative reinforcement D. Punishment E. Extinction
Answer the following statement(s) true (T) or false (F)
1. In the United States, a company can always refuse to hire a candidate solely because of a criminal history. 2. The multiple-hurdle selection model requires that each applicant must pass a particular selection test in order to go on to the next test. 3. The compensatory selection model allows an individual to do poorly on one test but make up for that poor grade by doing exceptionally well on other tests.
Which sentence uses correct capitalization?
A) Either the company President or Vice President will address the staff on Monday. B) The Marketing Manager discussed ways to attract more customers to the website. C) Can you tell me, Professor, when our tests will be corrected?
TrueBlue wants to gather accurate information about middle managers on dimensions such as leadership ability, ability to delegate, and employee supportiveness. Subordinate evaluations would be good for this purpose.
Answer the following statement true (T) or false (F)