Norms car, which he uses 100% for personal purposes, was completely destroyed in an accident in 2018. The cars adjusted basis at the time of the accident was $13,000. Its fair market value was $10,000. The car was covered by a $2,000 deductible insurance policy. Norm did not file a claim against the insurance policy because of a fear that reporting the accident would result in a substantial increase in his insurance rates. His adjusted gross income was $14,000 (before considering the loss). What is Norms deductible loss?

Group of answer choices

None of the above

$500

$0

$9,500

$100