Which of these can decrease a taxpayer's basis in their property?

The amount of cancelled debt excluded from income.

Assessments for local improvements.

Casualty restoration beyond bringing the property to pre$-$casualty condition.

Decline in the fair market value $($FMV$)$ of unsold property.

Mark for follow up

Question $16$ of $75.$

Which of the following will increase basis for depreciation?

Assessments for local improvements, such as sewers and sidewalks, and the cost of extending utility service lines to the property.

Casualty losses deducted on a return.

Section $179$ deductions.

The cost of demolishing a building.