Deductions & credits

Thank you, that makes sense. Not sure why the IRS can’t just say that. 

Is the FMV the decrease due to damages?  Because TT’s guidance says the drop in FMV should be based on an appraisal just before and just after the event. That makes a huge difference in my calculations. Damage was like $15,000 but the appraisal drop was more like $40,000.