Thank you, that makes sense. Not sure why the IRS can’t just say that.Is the FMV the decrease due to damages? Because TT’s guidance says the drop in FMV should ...
OK. So my original question still stands. How do I calculate the cost basis for my property?The IRS form 547 is not at all helpful in making the calculation as ...
OK. I want to make sure I understand correctly. If my home and property suffered $12,000 in damages from the flood that would be the "Cost Basis"? I would enter...
The original response said “less than $11,000” about 2/3 of the way down their post. That is what I am referencing. If it is $1,100 then yes of course both my c...
