Taxpayer purchased a personal residence on December 29, 2018 for $266,000. The fair market value of the residence was $280,000 when it was damaged by a flood on June 10, 2019 that resulted from not turning off the bath water before leaving for vacation. The fair market value of the residence after the flood was $240,000 and insurance proceeds received in August 2019 totaled $15,000. What is the net amount of casualty loss Taxpayer may deduct for 2019 as an itemized deduction if Taxpayer's adjusted gross income is $120,000?