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The cost basis you'll enter is the purchase price of your home plus the cost any major improvements you made to the home since it's purchase. The program later asks for the Fair Market Value (FMV) of the house just before the disaster loss and the FMV immediately after the disaster loss.
The cost basis you'll enter is the purchase price of your home plus the cost any major improvements you made to the home since it's purchase. The program later asks for the Fair Market Value (FMV) of the house just before the disaster loss and the FMV immediately after the disaster loss.
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