Question 35 Save Answer During the year, Walter's house was destroyed by a hurricane that devastated the Gulf coast. President Trump announced a federal disaster declaration for the whole area. He had a basis of $150,000 but the insurance adjuster determined the decline in value was $175,000. He received $130,000 in insurance proceeds. His AGI was $60,000 for this year. How much can Walter deduct for a casualty loss? O $25,000 0 $20,000 0 $13,900 O $0,- Only cows that are struck by lightning can be deducted for casualty losses. > A Moving to another question will save this response.