quiz 7 an - Skip navigation links <#endNav> INDIVIDUAL...

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Sheet1 Page 1 Skip navigation links <#endNav> INDIVIDUAL TAXATION: SUMMER 2010 (201105-ACCT-185-4922) </bin/common/course.pl?course_id=_27241_1> > > REVIEW ASSESSMENT: QUIZ 7 - LOSSES End navigation links Review Assessment: Quiz 7 - Losses User Maureen Waweru Submitted 6/28/10 11:19 AM Name Quiz 7 - Losses Status Completed Score 3 out of 5 points Instructions Question 1 text Question 1 1 out of 1 points Correct During 2008, Rocky had the following uninsured /personal/ casualty losses (all arising from /one/ casualty event). Rocky also had $18,000 of AGI for the year. _ASSET BASIS FMV Before FMV After_ A $ 500 $ 700 $600 B $2,000 $3,000 $ -0 C $ 700 $ 600 $ -0- Rocky's casualty loss deduction is: Question 1 answers Selected Answer: Correct a. $800 Correct Answer: Correct a. $800 Feedback: For each asset compute the lesser of basis or decline in value. Asset A:
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quiz 7 an - Skip navigation links <#endNav> INDIVIDUAL...

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