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Tim suffered greatly this year. In January a freak storm damaged his sailboat and in July Tim\'s motorcycle was stolen from his vacation home. Tim originally paid $28,200 for the boat, but he was able to repair the damage for $10,050. Tim paid $18,550 for the motorcycle, but it was worth $20,350 before it was stolen. Insurance reimbursed $1,200 for the boat repairs and the cycle was uninsured Calculate Tim\'s deductible casualty loss if his AGI is $50,000. How would you answer a. if Tim received an additional $65,000 in interest from municipal bonds this year? Solution a. the total loss= cycle loss= $18,550 repairs loss= $8,850 total= $27,400 if the duductible casualty loss is $50,000, then the remaining balance= $22,600 c. if he received additional amount of $65,000 then he can write of his losses and he can enjoy the remaining amount .

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- Tim suffered greatly this year. In January a freak storm damaged his sailboat and in July Tim's motorcycle was stolen from his vacation home. Tim originally paid $28,200 for the boat, but he was able to repair the damage for $10,050. Tim paid $18,550 for the motorcycle, but it was worth $20,350 before it was stolen. Insurance reimbursed $1,200 for the boat repairs and the cycle was uninsured Calculate Tim's deductible casualty loss if his AGI is $50,000. How would you answer a. if Tim received an additional $65,000 in interest from municipal bonds this year? Tim suffered greatly this year. In January a freak storm damaged his sailboat and in July Tim's motorcycle was stolen from his vacation home. Tim originally paid $28,200 for the boat, but he was able to repair the damage for $10,050. Tim paid $18,550 for the motorcycle, but it was worth $20,350 before it was stolen. Insurance reimbursed $1,200 for the boat repairs and the cycle was uninsured Solution a. the total loss= cycle loss= $18,550 repairs loss= $8,850 total= $27,400 if the duductible casualty loss is $50,000, then the remaining balance= $22,600 c. if he received additional amount of $65,000 then he can write of his losses and he can enjoy the remaining amount

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