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Augustus1 Augustus1
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7 years ago
Juanita, who is single, is in an automobile accident in 2010 and her car sustains $6,200 in damages. Because both drivers received tickets in the accident, Juanita does not expect to recover any of the loss from her insurance company. Juanita's 2010 AGI is $31,000, and she deducts a $3,000 loss on her 2010 tax return. Her other itemized deductions in 2010 exceed $12,000. In 2011, Juanita's insurance company reimburses her $2,800. Juanita's 2011 AGI is $28,000. As a result, Juanita must
A) amend 2010 to show a $200 loss.
B) do nothing and simply keep the $2,800.
C) do nothing to the 2010 return but report $2,800 of income on her 2011 return.
D) amend the 2010 return to show $0 loss and file her 2011 return to show a $200 loss.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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7 years ago
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Augustus1 Author
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#2
7 years ago
I'm forever indebted to you!

THANKS
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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