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What casualty loss deduction from this accident

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Question - Jim was in an auto accident this year. Jim paid $2,450 to repair his car after the accident, and his insurance only reimbursed him $400. Jim bought his car several years ago for $15,000. What casualty loss deduction from this accident can Jim combine with his other casualty losses in computing his itemized deductions?

A. $2,450

B. $2,050

C. $1,550

D. $12,550

Reference no: EM131802403

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