OK. I want to make sure I understand correctly.
If my home and property suffered $12,000 in damages from the flood that would be the "Cost Basis"? I would enter that on the appropriate line in TT and then on the next line enter any reimbursement I received from insurance or state assistance or FEMA, correct? The next screen in TT asks me for the FMV of the house prior to the flood and then the FMV of it immediately after the flood. I have those numbers.
IRS publication 547 is not at all helpful.
