In the Current Year, Juan's Home Was Burglarized

Multiple Choice

In the current year, Juan's home was burglarized. Juan had the following items stolen:
? Securities worth $25,000. Juan purchased the securities four years ago for $20,000.
? New tools which Juan had purchased two weeks earlier for $8,000. Juan uses the tools in making repairs at an apartment house that he owns and manages.
? An antique worth $15,000. Juan inherited the antique (a family keepsake) when the property was worth $11,000.
Juan's homeowner's policy had a $50,000 deductible clause for thefts. If Juan's salary for the year is $50,000, determine the amount of his itemized deductions as a result of the theft.

A) $3,100
B) $6,000
C) $26,100
D) $26,500
E) None of the above