Amount of jorge casualty loss

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Reference no: EM13991903

Jorge and his wife own a beachfront vacation home in Savannah, Georgia. During the year, high winds from a tropical storm shatter a sliding glass door and rain from the storm causes extensive water damage to the kitchen. Fortunately, during a calm in the storm, Jorge is able to board up the door, which limits the water damage to the kitchen. The items damaged in the storm are:

	Cost	Value Before	Value After	Insurance Proceeds
Kitchen furniture	$2,100	$1,400	$400	$650
TV	250	200	-0-	125
Refrigerator	1,000	950	100	800
Linoleum flooring	1,600	900	-0-	500

In addition, Jorge pays $625 to replace the sliding glass door. The insurance company will not reimburse him for the cost of the new door because the old sliding glass door did not meet the company's standards for a hurricane area. What is the amount of Jorge's casualty loss before considering any annual limitations that may apply?

Reference no: EM13991903

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