The rebuild was paid by insurance, and maybe some taxpayer contributions. This makes a huge difference, indicating a loss instead of the taxable gain I'm trying to reduce. It seems wrong to claim cost that did not come from his pocket.
Do I also decrease the &117 by the depreciation on $17K to $100K? Then add $119K for the insurance we used to claim the $18K loss for $219K? Wow! What a difference. Do I understand this correctly?
