Complete the research report for this module, according to the following instructions.
In early 2017, Brad Smith, parked his car on a steep street in San Francisco, California. The car is his personal car and he forgot to set the hand brake. As a result of Brad’s negligence, the car rolled down the street and ran into the porch of Simon’s house. Simon happened to be sitting on the porch and was injured in the accident. Brad had to pay to fix everything. He paid the following amounts later in 2017:
Medical expenses for Simon’s injuries $5,500
Repairs to Brad’s car $7,000
Repairs to Simon’s porch $8,500
Fine for traffic violation $275
Using only the Code and Regulations, determine which of these payments, if any, would qualify as casualty loss treatment (ignoring the percentage limitations) for Brad.
Use Internet research resources to answer the question posed above. Your response should be 2-3 pages, double-spaced, with normal margins and font size. You should submit a Word document that I can open and add comments to. Please proofread your submission and check the citations to authoritative sources before submitting the assignment. Once you have submitted your Word document, you will not be permitted to make revisions and resubmit the document.
