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Can I Include Unverified Remodeling Costs in the Cost Basis of My Sold Home?
I purchased a house in 2008 and spent approximately $40,000 on remodeling shortly after. Unfortunately, I no longer have receipts or bank records to verify these expenses, but I do have before-and-after pictures of the remodeling. I sold the house last year. Can I include a rough estimate of these remodeling costs in the cost basis for tax purposes?
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‎January 25, 2025
12:14 PM