Amy, the only thing I think I'm missing here is what to do with cost of repairs. I spent 95k of the 143k insurance proceeds. Does the 95k adjust my cost basis u...
I'm still struggling with this sadly. Can anyone validate that adjusting the basis up by the cost of repairs is the proper thing to do in this situation. Everyt...
Thanks Amy, last question.I found this in the IRS publication you sent.Adjustments to BasisIf you have a casualty or theft loss, you mustdecrease your basis in ...
I also just read in the IRS publication that you mentioned that the adjusted basis is decreased by insurance payments but increased by repairs done to the prope...
This helps a ton. Thank you.So, my original cost basis was 114k. I've claimed 29,099 in depreciation over the past 10 years or so(according to turbotax, which I...
