[KevinB]

I’ll bet you could figure that out with a little help from an estate lawyer and a good accountant.

I'm a business lawyer with an advanced law degree in taxation.

There is no way to figure out what it cost to build the house, what subsequent improvements were made and the costs of those improvements because any records of those costs, if there ever were any, are long gone.

I can't believe even the Democrats would be stupid enough to pass this because it would piss off everybody.

[Alberta's Child]

Thank you for that input. I'm a civil engineer and I work on major infrastructure projects. I could come up with a pretty good estimate for the cost of any highway, bridge, railroad or water system that's been constructed in the last 60+ years just based on standard heavy construction costs used in my industry. Would that pass muster with the IRS?

Hypothetically speaking, how would you advise a client in that scenario where they have inherited a house built by the sole previous owner 50+ years ago?

[familyop]

Thank you very much for your comment #29. Good storage of packets of cost documents with updated account sheets in each will be important.