39- -
$27,372.91 and $11,687, respectively. But, in addition,
petitioners received two checks, one for the damage to their
home, and one for the damage to its contents, in undisclosed
amounts and from an undisclosed insurance company, as
reimbursement for the damage caused by the April flood.
Accordingly, based on the evidence contained in this record,
we conclude that petitioners failed to prove that the damage to
their home and personal property exceeded the amount of insurance
reimbursement they received from ABIC as a result of the April
flood. Petitioners therefore are not entitled to deduct a
casualty loss on their 1991 return for damage caused by that
flood.
5. Claimed Business Casualty Loss Deduction for Computers
and Equipment
Petitioners deducted a business casualty loss of $6,880 on
Schedule C of their 1991 return for damage to computer equipment
located at their home at the time of the 1991 floods. The
equipment consisted of one computer, one hard disk drive, one
printer, and software.
Respondent contends that the business casualty loss claimed
by petitioners for damage to computer equipment was duplicated in
the casualty loss deduction arising from the February flood. We
agree, and thus sustain respondent's determination that
petitioners are not entitled to a business casualty loss
deduction for the computers and equipment in 1991.
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