Austin's house was broken into in 2020, and all his jewelry and stereo equipment was stolen. To date it has not been recovered. Austin did not have renter's insurance. He purchased the stereo equipment for $ 1,375.. The fair market value at the time of the theft was $ 1,000. He bought the jewelry for $ 1,500 the fair market value at the time of the theft was $ 1,500. Austin AGI IS $ 39,750. What is the amount of the deductible casualty loss of Austin?

multiple choice

1 $ 2,500

2. $ 2,400

3. $ 0