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New Member
posted Mar 22, 2020 12:02:20 PM

How to calculate the cost basis for theft loss for investment property ?

i had a house break in situation last september at one of my rentals and i lost rent for the next 2 months.  what is the cost basis in this case?how much loss can i report ?

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1 Replies
Expert Alumni
Mar 22, 2020 12:14:32 PM

There is no deduction for lost rent. You merely have less income that can be taxed.