Which of the following would be considered a net loss during

Which of the following would be considered a net loss during administration and be reported on Scheduke L?

A house fire that occured prior to the decedent\'s death

a theft that occurred during the settlement of the estate that is reimbursed by insurance

Storm damage on the decendent\'s residence that occurred during the settlement of the estate that is not reimbursed by insurance

Both B and C

Solution

Solution: Storm damage on the decendent\'s residence that occurred during the settlement of the estate that is not reimbursed by insurance

Explanation: Any losses that occur due to fire, storms, theft that occur during the settlement of the estate need to be reported on Schedule L. Such losses are deductible unless they’re reimbursed in any way