Norman John Haas III and Susan Renee Haas - Page 9

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          1930); Zmuda v. Commissioner, supra; Fontanilla v. Commissioner,            
          T.C. Memo. 1999-156.                                                        
         Petitioners’ Casualty or Theft Loss                                          
              Respondent did not allow petitioners any deduction for the              
         damage caused as a result of the theft of their truck in 2001.               
         Respondent’s position is that petitioners’ loss, if any, was                 
         covered by Allstate Insurance Company and that petitioners have              
         failed to show that they were not reimbursed by Allstate.                    
         Respondent also argues that petitioners’ claim of loss is                    
              Losses may be deductible under section 165 to the extent                
         that they are “not compensated for by insurance or otherwise.”               
         Petitioners produced at trial a letter from GEICO Insurance                  
         Company stating that petitioners were insured for the period                 
         during which the truck was stolen and that they filed no claims              
         during that period.  Respondent relies on the police report,                 
         stating that petitioners were covered by Allstate, and argues                
         that petitioners did not provide evidence that they did not file             
         a claim with Allstate.  Petitioner testified that his only                   
         automobile insurer was GEICO, with whom there was no theft                   
         coverage for the truck in 2001.                                              
              Respondent’s examining agent testified that petitioner told             
         her during the examination that it was too expensive to have full            
         coverage on the truck and that it was covered only by liability              

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