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Deductions & credits
Appraising the house in your case isn't necessary. Take the value from the tax rolls and use that as the before value and then deduct the cost of the repair and use that as the after value. The damage from the disaster reduced your home value by that much.
It might be worth amending 2022. You should run the numbers both ways and see which way it helps the most.
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March 26, 2024
10:56 AM