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Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their home in 2021 , which was
Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their home in 2021 , which was declared a Federally Designated Disaster Area. The flood damage ruined the furniture that was stored in their garage. The following items were completely destroyed and not salvageable: Required: Their homeowner's insurance policy had a $11,080 deductible for the personal property, which was deducted from their insurance reimbursement of $14,900, resulting in a net payment of $3,820. Their AGI for 2021 was $42,000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2021
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