This Summer, Rick's Home (Which Has a Basis of $80,000)

question 1125

Multiple Choice

This summer, Rick's home (which has a basis of $80,000) is damaged by a tornado which was declared a federal disaster. An appraisal by a realtor placed the FMV of the home at $120,000 before the tornado and at $85,000 after the tornado. Rick estimates that the insurance company will reimburse him for 60% of the loss. Next year, the insurance company pays Rick $20,000. Rick's current year's AGI is $50,000 and his next year's AGI is $55,000. Rick suffers no other casualty losses in either year. After limitations, Rick may deduct a casualty loss this year of

• A) $8,900.
• B) $15,000.
• C) $9,900.
• D) $35,000.

Describe the process of urine formation and the role of the nephron.

Understand the blood supply to the kidney and the nephron.

Recognize the histological features of the urinary system structures.

Explain the mechanisms of urine transport and storage.

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