In 2018, Grants personal residence was completely destroyed by fire. Grant was insured for 100% of his actual loss, and he received the insurance settlement. Grant had adjusted gross income, before considering the casualty item, of $30,000. Pertinent data with respect to the residence follows: Cost basis $280,000 Value before casualty 250,000 Value after casualty 0 What is Grants allowable casualty loss deduction? What would Grants casualty loss deduction be if there were no insurance settlement proceeds and the loss was from a Federally declared disaster area