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The amount of casualty loss is the lesser of the adjusted basis of the property, immediately prior to the disaster, or the decrease in fair

The amount of casualty loss is the lesser of the adjusted basis of the property, immediately prior to the disaster, or the decrease in fair market value as a result of the casualty. The decrease in fair market value may be determined by which of the following?

A. AppraisalB. Cost of repairsC. A and BD. None of the above

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