The Ottomans Own a Winter Cabin in Durango, Colorado

question 39

Multiple Choice

The Ottomans own a winter cabin in Durango, Colorado. They purchased the cabin in 1984 for $65,000. During the current year, a blizzard partially destroys the cabin. The fair market value of the cabin after the blizzard is $70,000. The insurance company estimates that the cost of repairing the cabin will be $40,000. The insurance company will reimburse the Ottomans for 70% of the repair cost. What can they deduct as a casualty loss if their adjusted gross income for the year is $80,000?

• A) $ 3,900
• B) $ 4,000
• C) $ 8,000
• D) $11,900
• E) $12,000

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Definitions:

Resocialization

The process by which individuals learn new norms and values to adapt to significantly different social roles or environments, such as in prisons or the military.

Gender Socialization

The process through which individuals learn societal norms and expectations related to gender roles and behavior.

Feminist Sociologists

Scholars who apply feminist theories and methods to sociological research, focusing on issues of gender inequalities and the experiences of women.

Gender Dramatization

The act of performing and exaggerating gender roles as defined by societal norms.