Need TAX Advice on insurance payment for burnt property

[Kaleab Berhane]

Background:

Property under contract:    Dec. 2013

Purchse price:                                                   $15,000.00

Property Purchase date:                                   02/04/2014

Property had burnt before closing date:           01/25/2014

Sell Bank paid me to keep property.                $75,000.00              (2014)

Lawyer Fee (10%):                                            $7,500.00

Demo (2015):                                                    $8,600.00

Property under contract for sale:                     $8,000.00

The Question: How do I go about filing my taxes. ( my tax prepare is not sure )

What is my basis.