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Margaret incurred one personal casualty loss caused by a federally declared major disaster in 2019. The amount of the loss, after all reimbursements had been
Margaret incurred one personal casualty loss caused by a federally declared major disaster in 2019. The amount of the loss, after all reimbursements had been subtracted, is $2,500. Margaret's AGI is $35,000. What is the amount of her casualty loss deduction?
No loss, but a gain of $1,000 on Schedule D.
$0
$2,000
$2,500
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