It's flimsy evidence but if the entire first loan was used exclusively for the construction of the loan, then you could use this as a basis if you have no other receipts. If the IRS decides to examine your return, the loan details may or may not be sufficient to offer as a basis, but these types of audits are rare at best.
Many taxpayers do not have specific information in estimating the basis of their house but rely on reasonable assumptions to make this determination.
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