Bought 2 homes in Aug 2017 for a total of $180K. Attorney assigned a value of $110K to one home and $70K on the other and deeded as such. though I am not sure why.
I sold one home for $165000 in Feb 2018and kept the other as a rental.
The 2017 tax bills show a taxable value of of 165K for the home I sold.
Can I use the tax value as the basis?
