Could I include any repairs/updates/additions to the property into the cost basis? Or is just the fair market value of the home was when my grandfather passed away considered the cost basis? If it is possible to include updates and additions would I just be able to do an appraisal at what the current house value is to get an offcial price on what the house is worth or how would I prove that I have put in about $40,000 over the past years?
