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Rod had the following business casualty in 2018: Business furniture vandalized Decrease in fair market value due to casualty Adjusted basis Insurance reimbursement Holding period

Rod had the following business casualty in 2018: Business furniture vandalized

Decrease in fair market value due to casualty Adjusted basis Insurance reimbursement Holding period

$2,500 $500 $1,700 20 years

Calculate the amount and nature of Rods gain or loss as a result of this casualty.

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