@aspielmansir - a couple of questions . comments that I think will let others provide a better answer than I could
1) while I understand the 65% / 35% split reasoning, what was the basis of the depreciation decision years ago? What percent of the house was depreciated over the years. For example, if 50% of the house value was depreciated over 27.5 years, how do you rationalize a decision to change it now to 35%? (or was the decision years ago to only depreciate 35% and you are now asking is that defensible?)
2) for the cost basis, it should be rather easy to check with the county deed office to determine what the sales price was in 1973. The improvements along the way may be the challenge.
