txrands84
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Thank you so much for your help.Rental House$135K Original basis$18K Less capital loss 2013$17K Less accumulated depreciation in prior years$119k Plus???? Insur...
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The rebuild was paid by insurance, and maybe some taxpayer contributions. This makes a huge difference, indicating a loss instead of the taxable gain I'm trying...
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Thank you for Table 1. It says increase to basis for "Casualty loss: Restoring Damaged Property". Can you help me understand this?
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Was the depreciation recaptured when the loss was claimed?
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Your comment also says "Do include the insurance...". Can you direct me to the IRS instructions that allow this?
Activity Feed for txrands84
- Posted Is box 11 included in box 1 if it is a withdraw? on Retirement tax questions. June 10, 2022 11:28 AM
- Posted Thank you so much for your help. Rental House $135K Orig... on Investors & landlords. June 4, 2019 6:34 PM
- Posted The rebuild was paid by insurance, and maybe some taxpaye... on Investors & landlords. June 4, 2019 6:34 PM
- Posted Thank you for Table 1. It says increase to basis for "Cas... on Investors & landlords. June 4, 2019 6:34 PM
- Posted Was the depreciation recaptured when the loss was claimed? on Investors & landlords. June 4, 2019 6:34 PM
- Posted If a rental house is destroyed by tornado then rebuilt with insurance proceeds and some taxpayer contributions, what is the basis when it is sold? on Investors & landlords. June 4, 2019 6:33 PM
- Posted Your comment also says "Do include the insurance...". Can... on Investors & landlords. June 4, 2019 1:39 PM
- Posted I have a similar situation and I am confused by this answ... on Investors & landlords. June 4, 2019 1:39 PM