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Deductions & credits
No. The time value of money does not enter into it at all. The adjusted basis is simply the dollar amount that they paid for it plus non-deductible cost paid at closing plus the value of any improvements that they made over the years. You might want to look at IRS Pub. 523, Selling Your Home for tips on basis.
http://www.irs.gov/pub/irs-pdf/p523.pdf
http://www.irs.gov/pub/irs-pdf/p523.pdf
‎June 4, 2019
1:07 PM