Lena Owns a Restaurant Which Was Damaged by a Tornado

question 87

Multiple Choice

Lena owns a restaurant which was damaged by a tornado. The following assets were partially destroyed: Lena has AGI of $50,000. What is the amount of Lena's deductible casualty loss?

• A)$54,900
• B)$60,000
• C)$70,000
• D)$180,000

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Definitions:

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California Dental Association

A nonprofit organization representing the dental profession in California, dedicated to advancing the profession through education, advocacy, and member services.