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Sam's building that was used for business was partically destroed by a hurricane. There was no insurance for hurricane damage. The building had an adjusted
Sam's building that was used for business was partically destroed by a hurricane. There was no insurance for hurricane damage. The building had an adjusted basis of $46,000. The FMV was $90,000 just before the hurricane and $65,000 just after the hurricane. What is the deductible casualty loss?
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