Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam...

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Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their home in 2022, which was declared a Federally Designated Disaster Area. The flood damage ruined the furniture that was stored in their garage. The following items were completely destroyed and not salvageable: Damaged Items Antique poster bed Pool table Large flat-screen TV FMV Just Prior to Damage $ 8,600 8,625 1,350 Original Item Cost (Basis) $ 6,300 14,575 4,775 Required: Their homeowner's insurance policy had a $11,755 deductible for the personal property, which was deducted from their insurance reimbursement of $16,275, resulting in a net payment of $4,520. Their AGI for 2022 was $47,000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2022? ces Casualty loss deduction Reynaldo and Sonya, a married couple, had flood damage in their home due to a dam break near their home in 2022, which was declared a Federally Designated Disaster Area. The flood damage ruined the furniture that was stored in their garage. The following items were completely destroyed and not salvageable: Damaged Items Antique poster bed Pool table Large flat-screen TV FMV Just Prior to Damage $ 8,600 8,625 1,350 Original Item Cost (Basis) $ 6,300 14,575 4,775 Required: Their homeowner's insurance policy had a $11,755 deductible for the personal property, which was deducted from their insurance reimbursement of $16,275, resulting in a net payment of $4,520. Their AGI for 2022 was $47,000. What is the amount of casualty loss that Reynaldo and Sonya can claim on their joint return for 2022? ces Casualty loss deduction

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