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No records to document adjustments to basis
I am planning to sell a home I’ve owned for more than 30 years. For a number of those years when I was living overseas, more than 20 years ago, I rented the house to tenants and claimed depreciation. I do not have records to document how much depreciation was claimed during those years. Also, I did a major renovation to the house about 15 years ago but can’t find the records to document those costs. How can I figure the basis for this asset to calculate the taxable gain? Thank you.
Wednesday