Wesley Completely Demolished His Personal Automobile in a Car Accident

question 93

Multiple Choice

Wesley completely demolished his personal automobile in a car accident.Damage to the auto was estimated at $35,000.Wesley had purchased the car a few years ago for $60,000.He received an insurance reimbursement of $28,000.His adjusted gross income this year was $55,000 and he incurred no other losses during the year.What amount can he deduct as a casualty loss on his income tax return after limitations?

• A)$1,400
• B)$1,500
• C)$6,900
• D)$7,000

---

Definitions:

Passion for Soccer

A strong or intense enthusiasm and dedication towards the sport of soccer, often encompassing both playing and following the sport.

Agreeableness

A personality trait characterized by qualities like being kind, sympathetic, cooperative, warm, and considerate.

Big Five Personality

A theory that identifies five main personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism, which are believed to represent the broad dimensions of human personality.

Welfare Officers

Professionals responsible for the well-being of employees and facilitating access to support services.