Determine her taxable income

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Problem - In 2019, Mary had the following items:

Salary $30,000

Personal use casualty gain 10,000

Personal use casualty loss (after $100 floor) 17,000

Business Casualty Loss 4,000

Other itemized deductions 21,000

Assuming that Mary files as head of household (has one dependent child), determine her taxable income for 2019. None of the casualty items relate to a Federally declared disaster area.

Reference no: EM132725690

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