1.In 2019 John's house was completely destroyed by a fire which was in a Federally declared disaster area. His adjusted basis in the home was $125,000. His AGI in 2019 was $90,000. The house was insured for $100,000 and his insurance deductible was 10%. How much was John's deductible casualty loss in 2019
$15,900
$25,900
$25,000
$26,000
$16,000
2.
During 2019, Amanda was allocated a passive loss of $50,000 in an investment in XYZ Ltd which she had an at-risk amount of $40,000. In 2019 she was also allocated passive income from another investment in ABC LTD of $15,000. What is her amount at-risk for investment in XYZ Ltd on 1/1/2020?
-$10,000
$0
$25,000
$5,000
$35,000
