Should I figure my cost basis for my house damage deduction based on original purchaSE price of 272,500 in 1989, or at valued price of 623,000 in 2017?

ripplingabs2 · ‎June 3, 2019

I want to get the maximum/proper deduction for Hurricane Irma damage and am not sure how to calculate fair market value of my house and property. House cost $272,500 in 1989. It is valued at $630,000 today, It sustained $20,000 damage. Thanks! Pat