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New Member
posted Jan 8, 2025 8:21:28 PM

What should I put in the Cost Basis box for damages from a federal disaster?

I had damage from a freeze and am trying to figure out what to put in the Cost Basis box

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1 Replies
Expert Alumni
Jan 23, 2025 8:58:01 AM

Only you know what the value of the item was before the disaster. Your loss is the difference between the value before the disaster versus after the disaster.