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The basis I used is the County appraisal for assessment purposes. I received a copy of that. Of course, I was aware of the drastically fallen home values in FL and would never use the unpaid principal balance of the mortgage as the basis.

I am seriously considering having my corporate CPA prepare my personal taxes for 2012 (he prepares corporate and personal). He is a personal friend, and I hate to cast this upon him, but he has been in the business for a long time, and I trust him explicitly. As a note, he used to work for one of the big 5 accounting firms in the country. Fortunately, his firm was not involved in all the brouhaha during the Enron years.

What a pain in the rear.

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