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Accounting & Auditing
Insurance
Tax Preparation & Planning

REG CPA Practice Questions: Casualty Loss Deductions

54 views · May 3, 2024
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In this video, we walk through 5 REG CPA exam practice questions on deducting casualty losses as itemized deductions. Important Links Link to the free study training webinar mentioned in the video: https://www.superfastcpa.com/strategic-study See the full post for this video: https://www.superfastcpa.com/reg-cpa-practice-questions-explained-casualty-loss-deductions/ See the other REG walkthrough videos here: https://www.superfastcpa.com/free-reg-cpa-practice-question-walkthroughs/ 00:00 Intro 00:55 Question 1: Nonqualifying Casualty Loss 02:05 Question 2: The Casualty Loss Calculation 04:44 Question 3: Two Federally Declared Disasters 07:21 Question 4: Fully Reimbursed by Insurance 08:27 Question 5: A Situation Where the Adjust Basis is Lower than the FMV 09:48 Pillar Topics
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