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Justin's valuable gun collection was stolen from his home. He purchased the guns for $100,000 and they were worth $125,000 at the time they were
Justin's valuable gun collection was stolen from his home. He purchased the guns for $100,000 and they were worth $125,000 at the time they were stolen. He did not separately list them on his homeowner's insurance policy so he only received $1,000 from insurance. How much may he deduct as a casualty loss on his tax return if his AGI is $100,000?
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