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Get your taxes done using TurboTax
Note also that if the tax records are showing the current tax value of the improvements, that will not be the cost to build them. Your adjusted cost basis must use the cost, rather than the current value. If you don’t know the cost, you might make a fair estimate, but the IRS may deny the adjustment without proof if you are unlucky to be audited.
September 29, 2022
7:26 AM