This helps a ton. Thank you.
So, my original cost basis was 114k. I've claimed 29,099 in depreciation over the past 10 years or so(according to turbotax, which I've used all this time) so my cost basis is $84,901 and my insurance reimbursement is 143k.
95k did essentially cover all the cost of repairs.(I was the GC so I was able to shave off costs)
So on the next page with FMV, my FMV before the storm(home value) was 137k.
So my FMV after is my cost basis of $84,901 minus $95k for repairs? Which for me would be negative 5k? Or 95k minus original cost basis of 114k which leaves 19k? Or... is it the FMV minus the 95k which leaves 42k?
Sorry for so many questions, thank you for all the help!
