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of the hardwood flooring. Petitioners rented and resided in an
apartment while the foregoing work was being done in their
residence in order to prevent exposure of Ms. Mitic to the dust,
paint, and other pollutants that were generated by that work.
Petitioners did not have their residence appraised either before
or after the carpeting was removed from, and the hardwood floors
were installed in, their residence and the interior of that
residence was repainted.
On February 7, 1994, Ms. Mitic purchased for a total price
of $8,370 a Chinese rug measuring approximately 6 feet by 9 feet
and a Persian rug measuring approximately 9 feet by 12� feet.
Petitioners placed those rugs on the hardwood floor in their
residence.
Claimed Casualty Loss Deduction
On November 2, 1994, while driving on vacation in Mr.
Mitic’s 1989 Mercedes-Benz 560 SEL (Mr. Mitic’s Mercedes) to Lake
Tahoe, California, petitioners were involved in an automobile
accident (petitioners’ automobile accident). At the time of
petitioners’ automobile accident, Mr. Mitic’s Mercedes, which he
had purchased in 1989 for $67,500, had relatively low mileage
(i.e., 21,921 miles), had been exceptionally well maintained, and
was insured by State Farm Mutual Automobile Insurance Co. (State
Farm). As a result of petitioners’ automobile accident, Mr.
Mitic’s Mercedes was totaled, i.e., damaged beyond reasonable
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