Solved
House burnt down. The next year I sold the land at a gain. No Form 1099-S was received. Can I reduce the new house basis or is this taxable gain?
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Edited 3/11/18
The sale of the land would generally be a gain but see further answers below. Your house that was burnt by file should have been reported as a Casualty and Theft to recoup any amount that the insurance company did not reimburse.
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