My mom recently sold her house that she owned for over 40 years. Original purchase price was ~30k in 1970s; she sold it for ~700k this year. The house underwent several renovations over the years, kitchen x2, raised roof/added bathroom, multiple bath renovations, finished basement, new windows x 2, etc etc etc. A lot of this work was done in the 80s and 90s. How would she go about adjusting the basis? She doesn't have receipts for most of the work and some of it was done by my dad. My dad passed away and my mom was the sole owner so her capital gains exemption is 250K.
Thanks for any advice on where to start.
A.
