Florida Home Insurance Term - What is Adjusted Basis?

We know that the term adjusted basis is a tax term that refers to the net cost of your property adding in any of the improvements you have added minus any depreciation.

Adjusted basis can be calculated by taking your original homes cost basis and take out adjustments.  

Take the cost basis, add purchase costs, improvements, legal fees, selling costs, then subtract all of the depreciation, theft loss, and any other decreases and you will get your adjusted basis.