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URL:  http://boards.fool.com/geocarw-quot-single-family-rental-house-owned-30537203.aspx

Subject:  Re: Rental property loss? Date:  2/11/2013  7:59 PM
Author:  JAFO31 Number:  117736 of 121567

geocarw: "Single family rental house owned for 20+ years and fully depreciated. Hailstorm last spring necessitated replacement of entire roof. Insurance covered all but $200 of costs (Roofer $5400-5200 Insurance Co). I have read and re-read Form 4684-Casualties and Thefts and Instructions. I'm at a loss on how to complete SECTION B—Part I Lines 20 on. My attempt using TaxACT:

Line 20-adjusted property basis... zero(0)"


Not a response to you question, but your post causes me to ask how does a SFH ever have a zero basis?

SFH sits on land, worth something (even 20+ years ago), and is not depreciated (as I understand the rules).

Curiously, JAFO
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