RobertB4444
Expert Alumni

Investors & landlords

In your case it looks like the adjusted basis that you have for the house is half of what your aunt originally paid for the house and half of that roof from 2006.  Since you don't have receipts for any of the other improvements you can't include them.

 

The good news is that the gain on the sale of your aunt's house is taxed as long-term capital gains so it is taxed at a lower tax rate.  You'll still get to keep most of the money.

 

@roger571 

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