In 2014,the U

question 71

Multiple Choice

In 2014,the U.S.President declared a federal disaster in California due to wild fires.Helen lives in the affected area and lost her home in the fires.What choice does she have regarding when she can claim the loss on her tax return?

• A)It must be claimed in 2013 if the return has not been filed by the date of the loss.
• B)It must be claimed in 2014 if the loss is greater than Helen's modified adjusted gross income.
• C)It may be claimed in 2015 if an election is filed with Helen's 2014 return.
• D)It may be claimed in either 2013 or 2014.

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Definitions:

Common End

A shared goal or objective that multiple parties aim to achieve through collaboration or agreement.

Shared Output

A result or product of work that is produced by two or more parties working together.

Collective Bargaining

A process where workers, through their unions, negotiate contracts with their employers to determine their terms of employment, including pay, benefits, hours, leave, job health and safety policies, and more.

Verification

The process of establishing the truth, accuracy, or validity of something.