During the year, the Grants personal belongings were damaged by a federally declared disaster in...
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Accounting
During the year, the Grants personal belongings were damaged by a federally declared disaster in September of the current year. All the items are considered damaged in one event. How much can they excluded?
| Item | Purchase Date | Decline in FMV | Tax Basis of Item | Insurance Reimbursement Received |
| Laptop computer and Printer | 09/01/2013 | 3,000 | 3,000 | 500 |
| Rifle | 03/01/2010 | 12,000 | 12,500 | 500 |
| TV/Projector | 03/01/2010 | 5,000 | 13,000 | 1,000 |
| 2005 Honda Pilot | 07/01/2011 | 4,000 | 6,500 | 500 |
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You can see the logs in the Dashboard.