Tommy Lee Randle and Joyce Faye Randle - Page 11

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          denied petitioners’ applications in March 1995 and June 1995,               
          respectively, and there is nothing in the record to suggest that            
          petitioners appealed the denial of either application.                      
               In view of the foregoing, it is apparent that after June               
          1995 at the latest, petitioners had no reasonable prospect of               
          recovery with respect to any claim for reimbursement for damage             
          to their residence caused by the Northridge earthquake.                     
          Accordingly, the casualty loss was not sustained in 1996 but                
          rather in 1994, the year in which the Northridge earthquake                 
          occurred or, at the latest, in 1995, the year in which claims for           
          reimbursement possibly relating to damage caused by such                    
          earthquake were finally resolved.                                           
               Petitioners contend that they sustained the loss in 1996               
          because that was the year in which they “paid for the damage” by            
          having their home repaired.  However, petitioners’ contention               
          does not reflect the applicable law, which we discussed above and           
          which we are obliged to apply.                                              
          Issue (2): Amount of the Loss                                               
               In view of our disposition of the prior issue, the issue               
          regarding the amount of petitioners’ deductible loss is moot.               
               In view of the foregoing, respondent’s determination is                

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