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Determine neal agi and the casualty loss deduction

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Neal, single and age 37, reports the following items for 2019:

Salary $50,000

Casualty loss on business property (8,000)

Casualty loss on rental property (5,000)

Federal disaster area personal casualty gains 3,000

Federal disaster area personal casualty losses (after $100 floor) (12,000)

Interest expense and taxes on personal residence (11,700)

Problem 1: Determine Neal's (1) AGI and (2) the casualty loss deduction from AGI for 2019.

Reference no: EM132737989

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