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My mom sold her 30-year old cottage last year. They had it built. She has many receipts, but not all. How does she determine it's original value for capital gains?
The cottage was built in the mid 80's. My parents did some of the work themselves. It was not their primary resident, so my mom owes capital gains from it's sale. My dad was on the title, but passed away 2 1/2 years ago. How does she determine the original value of the cottage, without all the receipts (or does she just estimate), and how does my father's death (before the cottage was sold) factor in?
‎June 4, 2019
2:51 PM