The following is a quote from the Tax Court regarding the computation of tax basis of an inherited apartment located in Berlin, Germany:
The question, then, is whether * * * we are to deny petitioner any basis * * * because we cannot determine the basis with that comfortable degree of accuracy which is always desirable. We cannot, under proper circumstances, avoid determination of the proper basis for computing a deduction merely because the task is difficult or the result inexact.
Reisner v. Commr, 34 T.C. 1122 (1960)
The posts on this blog have not been verified for accuracy. You should consult an attorney for legal advice regarding your own situation. These posts are not updated for changes in the tax laws. Further, these posts should not be relied upon for any purpose whatsoever.
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