Homework SourseIn June Alvaro discovered his house had been burglarized His
In June Alvaro discovered his house had been burglarized. His loss after insurance reimbursement was $2000. His adjustment gross income for the year he discovered the theft is $29,500. What amount can Alvaro claim as a theft loss deduction?
In June Alvaro discovered his house had been burglarized. His loss after insurance reimbursement was $2000. His adjustment gross income for the year he discovered the theft is $29,500. What amount can Alvaro claim as a theft loss deduction?
Solution
Alvaro can only claim as a theft loss deduction in the tax return is \" Loss after insurance reimbursement\" which was $2000.
