Coleen3
Intuit Alumni

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.