Topic： personal casualty loss
　　Content：
　　casual loss的計算 loss有遭臺風(fēng)的和wood rot的
　　1.What belongs to casualty loss, what do not?
　　√ Damage from a fire, storm, accident, mine cave-in, sonic boom, or loss from vandalism
　　× Losses from the breakage of china or glassware through handling or by a family pet
　　× Disease, termite, or moth damage
　　× Progressive deterioration through a steadily operating cause and damage from normal process
　　× Loss of future profit
　　2.How to calculate Loss= min(the decrease in the FMV of the property in the casualty, the adjusted basis of the property). The amount of loss must be reduced by
　　a. Any insurance or reimbursement, and
　　b. $100 floor for each separate nonbusiness casualty
　　Alex and Myra Burg, married and filing joint income tax returns, derive their entire income from the operation of their retail candy shop. Their 2013 adjusted gross income was $50,000. The Burgs itemized their deductions on Schedule A for 2013. The following unreimbursed cash expenditures were among those made by the Burgs during 2013:
　　Repair of residence damaged by hurricane, which originally cost $500,000 to purchase; fair value $600,000 before accident and $200,000 after
　　accident     $9,000
　　Repair of residence damaged by wood rotten     $2,000
　　Without regard to the $100 “fl oor” and the adjusted gross income percentage threshold, what amount should the Burgs deduct for the casualty loss in their itemized deductions on Schedule A for 2013?

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