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What is alicia allowable casualty loss deduction

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Question - During the year, Alicia's personal summer home was almost completely destroyed by a fire started in a work room. She had adjusted gross income of $110,000 in 2016 and related data with respect to the summer home follows:

Cost basis:$121,000Value before casualty:$155,000Value after casualty:$15,000

Alicia was partially insured for the loss and in 2016 she received a $100,000 insurance settlement. What is Alicia's allowable casualty loss deduction for 2016?

$9,900.

$20,900.

$35,900.

$55,000.

Reference no: EM131596816

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