Katrina - FMV Home Loss and Sale

[Brett Harlow]

I'm trying to determine the proper amounts to claim for
losses and the subsequent sale of home re: Katrina.

In listing the original cost, can I add the value of
subsequent improvements re: computing losses? I had to do
this when listing the sale of the house re: capital gains.

In determining the FMV after Katrina, do I list the price I
sold it for? It was completely destroyed and condemned as
uninhabitable and was sold far below FMV, but I have to put
something.

Can I lump all my personal property losses together
(furniture, appliances, etc.), estimate total costs and FMV?
Or should I list each item the way I did for my insurance
company? How do I determine FMV for these items
(furniture)? Can I take a loss for furniture that had
become antique? Or should I estimate a high price and say I
bought it at an antique store?

Can I take losses for collectibles, art, etc.?

Thanks!

<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ======================================================= >>