On January 3, 2022, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair

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On January 3, 2022, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair market value and adjusted basis of $9,600.

Assuming Carey had no insurance coverage on the bracelet and his adjusted gross income for 2022 is $55,000, calculate the amount of his theft loss deduction (after any limitations).

Posted Date: May 02, 2024 02:32 AM

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On January 3, 2022, Carey discovers his diamond bracelet has been stolen. The bracelet had a fair

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