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How much of a casualty loss deduction can peter claim

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Peter woke up one day in 2019 to find his front porch had collapsed from rust and termites. It cost Peter $50,000 to fix the porch none of which was covered by insurance. How much of a casualty loss deduction can Peter claim for 2019 assuming his adjusted gross income is $125,000? Explain your answer.

The response paper should be in APA format, double spaced, hand-written, numbered pages, with a cover page and references.

Reference no: EM132319513

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