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Gomez, a self-employed consultant, is involved in a traffic accident with his business-use automobile. The car is totally destroyed and Gomez's insurance policy reimburses him $8,000 for the fair market value of the car immediately before the accident. His basis in the car is $11,000. What is the amount of Gomez's casualty loss deduction?
Social Conventions
Agreed-upon norms and behaviors that govern interactions within a society, providing a framework for social order.
Primary Sex Characteristics
The structures that make reproduction possible.
Testosterone
A steroid hormone primarily produced in males' testes and females' ovaries, known for its role in developing male sexual characteristics and influencing behavior.
Estrogen
A group of steroid hormones that play a crucial role in female reproductive health, influencing the menstrual cycle and fertility.
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