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Adjusted cost basis....
I bought my condo in California in 1995, and paid $132.5k. I sold it in July 2024 for $705k and I qualify for the $500k deduction. In 2011 I remodelled the master bathroom and the kitchen. I believe I remember how much I paid for the upgrades but I do not have receipts/checks copies proving my expenses. Any suggestions for proving how much I spent for those renovations? I am assuming bank records of those checks are purged by now..... I am just feeling uneasy in case I get audited!
March 27, 2025
8:45 AM