Q. Does it matter that .............? I am guessing the answer is no.
A. Yes, the answer is no.
Q. Since, I have to go off of his basis, I think the sequence is something like the following:
1) Find what he paid for the land when he bought in in 1972 or so.
2) Divide that in ~1/2 since the parcel was split between his and mine
3) Add an estimate for the roads , shared well, and building cost for the structure on my property, which I assume has to be at 1970's prices. Is there a way to get a basis for that, or should I use current estimates for construction costs and deflate by the inflation between time of construction and now?
A. Yes. Since you're only estimating, it doesn't matter which method you use. records of actual costs would be best, under scrutiny.
