Business, 23.12.2020 04:10, mell45

Riley operates a plumbing business, and this year the three-year-old van he used in the business was destroyed in a traffic accident. The van was originally purchased for $21,600 and the adjusted basis was $5,600 at the time of the accident. Although the van was worth $6,160 at the time of accident, insurance only paid Riley $1,400 for the loss. What is the amount of Riley's casualty loss deduction

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Riley operates a plumbing business, and this year the three-year-old van he used in the business was...