Tina had a basis in her rental home of $52,300. Immediately before a wildfire completely destroyed the property, it was valued at $80,000. The value immediately after was $0, Tina received $40,000 of insurance reimbursements for the loss Question 4 of 75. sustained in a federally declared disaster area. What is Tina's allowable casualty loss or gain? $12,300 casualty loss $52,300 casualty loss $40,000 casualty loss $80,000 casualty loss