Greg and Reni, who are married, file joint income tax returns. In 2016, they paid $90 to repair a glass vase accidentally broken in their home by their pet dog. The vase cost $500 in 2016. Its FMV was $600 before the accident and $200 after the accident. Without regard to the $100 "floor" and the adjusted gross income percentage threshold, what amount should Greg and Reni deduct for the casualty loss in their itemized deductions on Schedule A for 2016?
a) $0
b) $90
c) $300
d) $400
Ans: a) $0
Business
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