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In 2022, Jake incurred the following business casualty losses from a fire that was not in a Federally declared disaster area: Before considering this casualty

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In 2022, Jake incurred the following business casualty losses from a fire that was not in a Federally declared disaster area: Before considering this casualty loss, Jake's adjusted gross income for 2022 was $20,000 Considering any possible limitations. what is Jake's casualty loss deduction for 2022

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