HUrricane Milton

libertycs · ‎March 26, 2025

Purchased home that had pool enclosure. We lived in home for 10 years. How do we calculate cost basis for FEMA disaster Milton. Home is 20 years old and we don't have any records of permits.

Your previous answer has a thread that does not work for a FEMA disaster cost basis.

DawnC

Your cost basis of your home is the original cost you paid for it 10 years ago + any adjustments that result from transactions over the period you own the asset. Examples of adjustments would be an increase in valuation due to a property improvement. IRS Cost Basis

Taxpayers affected by disasters

From the IRS - FAQs for Disaster Victims

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