Confusion about quit claim deed

[Sunny253]

I was given my home via quit claim deed by my sister in 2018. My sister bought the home for 205k in 2010. I have lived in the house since 2010. I don’t have any other paperwork, besides the deed itself. I sold the house in 2022 for 445k.

How do I report this? My sister doesn’t have the paperwork from when she originally bought the house and (although I know for sure she paid 205k).

[Vanessa A]

If your sister paid $205k then your cost basis would be $205k.  If you want to verify or are trying to find documentation you can go to your county courthouse recorder of deeds.  They have the records of all sales on the house. Since this was a home you lived in you would enter the sale by clicking on the following:

• Federal
• Income
• Show more next to Less Common Income
• Start next to sale of your main home
• Then walk through and enter the amount your portion of the sale and expenses

[Sunny253]

Thank you for your help. This makes sense! Appreciate you!