Belinda was involved in a boating accident in 2015. Her speedboat, which was used only for personal use and had a fair market value of $40,400 and an adjusted basis of $20,200, was completely destroyed. She received $14,140 from her insurance company. Her AGI for 2015 is $50,500.
Belinda's casualty loss deduction (after any limitations) is $ and is treated as a deduction from AGI