Otat lives in the state of Minnesota. In May 2023, a tomado hit the area and damaged his home and automobie. Applicable information is as follows: Because of the extensive damage caused by the tornado, the Preaident designated the area a Federal disaster area. Olaf and his wife, Anna, always file a joint return. Their 2022 tax return shows AGI of $180,000 and taxable income of $150,000. In 2023 , their return shows AGI of $300,000 and taxable income (exclusive of the casualty loss deduction) of $245,000. Assume the taxpayers are in the 22% tax bracket in 2022 and the 24% tax bracket in 2023. Determine the amount of Olaf and Anna's loss and the year in which they should take the loss: Olaf and Anna should include the loss on the