topic Youre welcome. in Get your taxes done using TurboTax

Finding tax law?

we-allhave2- — Wed, 05 Jun 2019 06:30:10 GMT

I have some gifted property that I have taken care of for 12 years and recently started renting. When I inquired about coming up with a cost basis for the property I was told... For gifted property, your cost basis is the "cost basis of the donor on the date of the gift" PLUS your improvements and special assessments minus any casualty losses you took as a tax deduction.

My question is, "Where do I find that law"?

Thank you so much for your help.

https://www.irs.gov/faqs/capital-gains-losses-and-sale-of...

Lisa995 — Wed, 05 Jun 2019 06:30:11 GMT

https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/property-basis-sale-of-home-etc

Not sure its a "law" its IRS rules.

Lisa995 — Wed, 05 Jun 2019 06:30:12 GMT

Not sure its a "law" its IRS rules.

Thank you very much.

we-allhave2- — Wed, 05 Jun 2019 06:30:14 GMT

Thank you very much.

Youre welcome.

Lisa995 — Wed, 05 Jun 2019 06:30:16 GMT

Youre welcome.