The personal casualty loss related to an accident that, Ask an Expert

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Pedro has AGI of $100,000 in 2013. During 2013, Pedro also had an uninsured personal casualty loss of $15,000 (after the $100 reduction). The personal casualty loss related to an accident that Pedro had with Fernando. Pedro carried no collision insurance and Fernando was also an uninsured motorist. Assume Pedro itemizes deductions in 2013. What is the casualty loss amount that Pedro may deduct on his return?

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Accounting Basics, Accounting

Category:- Accounting Basics
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