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Investors & landlords
I'm getting a little lost. Yes to decrease to $100k. Yes, decrease by $18k more. So, you got an insurance payment for $219k and used the entire amount to rebuild? If so, those two are a wash. The person who gifted you money is irrelevant. Was additional money over and above the $219k that you used to rebuild? If so, add that to the basis.
‎June 4, 2019
6:34 PM