Cost Basis For Sale Of Home

by Anne
(Boulder, CO USA)

I sold a home in 2010. My husband has been running a small business out of the home since 2003, and we've been depreciating the portion of the home attributed to the small business on our taxes since then.

How do I calculate the cost basis of the home, since we've been depreciating all these years? The business continues, it has not been shut down.

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Cost Basis of Gifted Foreign Stock

by Jon
(Scottsdale AZ)

In order to calculate (and report to IRS) the gain or loss on a recent sale of stock, I need to know the cost basis of the stock. I am a dual UK/US citizen (born in US to UK parents, but left USA at the age of 2) and was gifted this UK stock by my grandmother in UK in about 1990 when I was 4 years old and I was living in Hong Kong. I grew up in Hong Kong (1988 - 1996) and eventually returned to USA in 1996.

I just sold some of this gifted stock and have no idea how to calculate the cost basis.

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