Problem $5-32$

Other Itemized Deductions $($LO $5\mathrm{.}10)$

On January $3,2023,$ Carey discovers his diamond bracelet has been stalen. The bracelet had a fair market value and adjusted basis of $$7,500.$

$$$$0$

arey had no insurance coverage on the bracelet and his adjusted gross income for $2023$ is $$45,000,$ calculate the ampunt of his theft loss deduction $($after any limitations$).$

$$2,900$

$$7,400$

$$7,500$