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Calculate Faith deductible losses

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Reference no: EM132656862

Problem - A list of the items that Faith sold and the losses she incurred during the current tax year is as follows:

Yellow, Inc. stock $1,600

Faith's personal use SUV 8,000

Faith's personal residence 10,000

City of Newburyport bonds 900

Required - She also had a theft loss of $1,500 on her uninsured business use car. Calculate Faith's deductible losses.

Reference no: EM132656862

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