He recovered 13000 from his insurance company. his agi is, Ask an Expert

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Willie has an apartment full of antique furniture. A fire in the apartment destroyed a large part of his furnishings. The destroyed furnishings have a fair market value of $40,000 and Willie's basis in the furnishings is $33,750. He recovered $13,000 from his insurance company. His AGI is $43,000. What will be the bottom line deduction on Form 4684

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Accounting Basics, Accounting

Category:- Accounting Basics
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