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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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AmyC
Employee Tax Expert

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

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.

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