. During 2021, Chris Sale (AGI = $25,000) had the following personal casualty loss:
∙ Adjusted basis: $6,000
∙ Fair market value before event: $5,000
∙ Fair market value after event: $0
∙ Insurance proceeds: $1,900
Assuming the loss is related to a federally declared disaster, what is the casualty and theft loss for Chris?
A. $3,100 B. $1,500 C. $0 D. $500 E. $600