No. The basis is what the person who gifted it to you, paid for it. Doesn't matter if they purchased the property 50 years before they gifted it to you. It's what your mother paid for it. (Assuming your mom gifted it to you). You can get that figure at the county courthouse in the property tax section. They'll have a history of all property transfers (including the transfer of the property to you from your mom) and the price paid by the buyer to the seller. Some counties have that information on line. so check your county tax assessor's website.
"plus what I spent to build the house"
Wait a minute. YOu said earlier the house was gifted to you. Now you say you built it. What's the scoop here and what's going on? Before you answer, give me a minute to provide you some information that I'm sure will help you to clarify things. I have to provide this in an answer box, vs a comment box, because I can't highlight things in a comment box.
