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A hurricane (declared a federal disaster) damaged a personal auto owned by Mr. and Mrs. South on June 15, 2018. Fair market value before the

A hurricane (declared a federal disaster) damaged a personal auto owned by Mr. and Mrs. South on June 15, 2018.

Fair market value before the flood $18,500

Fair market value after the flood 2,000

Cost basis 20,000

Insurance proceeds 13,000

Adjusted gross income for this year 25,000

Calculate the South's deductible casualty loss.

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