During 2019 Bob's house burned to the ground when a spark from his fireplace ignited the carpet. Immediately before the fire Bob's house was worth $300,000 and it had a basis of $200,000. His insurance reimbursed him $150,000. Bob's AGI for 2019 was $100,000. What is the deductible amount of Bob's casualty loss?

$0 $50,000 $39,900 $150,000