Thanks. I have been living in the home as my principal residence and know about the exclusion for selling an owner occupied home. But the gain will be much more than that and my main concern is the lack of records to document depreciation claimed more than 20 years ago when the property was rented out. If I understand a previous answer correctly, I can only get copies of old tax returns from the IRS for the last 10 years, so that won’t help me out. I suppose what I’m left with is trying to estimate what the depreciation should have been since I do know the original basis, and I suppose it would have been depreciated over 27 years. Regarding the major renovations that were done about 15 years ago, and yes, that is when I moved back into the house, again I suppose the best I can do is guess at an estimate, if I can’t come up with any records. The renovations were paid by check, and I can see if my bank would have records of the canceled checks going back that far, but I’m really not sure. Thanks for the follow up.
