Proving cost basis of inherited home w/o appraisal

What is the name of your state? NJ

My stepmom died in June of 2006 and the 8 of us inherited her and dad's house in Florida. We sold the house in Nov 2007 for 119K and at closing we each got one eighth of 108K. The problem is, the executor (mom's sister) never had the house appraised. The comps we got from the RE agent in July 2007 showed the median at 133K for homes recently sold and 149K for homes currently on the market, and as I stated above, we sold in Nov 2007 for 119K. I don't know what the house was worth in June 2006, but I do know RE prices in Hernando Co., FL had been in decline for at least 2 years. Do I have to file a Schedule D with my tax return, and if so, how do I prove my basis? Also, there's no way on Schedule D to show that my share was only one eighth of the total.

Was there a value assigned by the probate referee or one placed on the property on an estate tax return? An appraisal is not strictly necessary to establish basis. Comps could be used as a good faith estimate. If audited, you may need to get more, but I don't think it likely if everything fits with what the market says.

There was no value attached to it in probate and no estate tax return was filed that I know of. Except for a few thousand dollars in cash,most of which went to pay property taxes and an attorney, the house was the entire estate.