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#1
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capital gains-cost basis for houseWhat is the name of your state? WA I had a house quit claimed to me. The quit claim deed does not state the cost basis of the house to the person who quit claimed it to me ten years ago or. How can I find out what the mortgage was on it at that time. I took out equity on the house through the years and at this point can't remember the starting point. Is there some data base I can look at using the old parcel number? I sold the house and need to figure out my taxes.What is the name of your state? |
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#2
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| You need to find out the basis of the person who gave you the house. The mortgage at the time is irrelevant. There is not a database to find out. You might be able to go to a Realtor who will look up the history and find what was paid for the house prior to you. This is not a basis, but your basis won't be lower than that. Info edit: By the way, why do you keep asking the question? The answer is not going to change. YOU NEED TO FIND OUT WHAT THE BASIS WAS OF THE PERSON WHO GAVE YOU THE HOUSE! Period. Anything else is wrong.
__________________ When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it. --W. T. Pooh (aka A. A. Milne) Last edited by tranquility; 02-04-2008 at 11:07 PM. |
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#3
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| Depending on the local custom and how easy the records are to search, the tax assessors office or the land records recorder may have the reported purchase price when the quit-claimer bought it. That'd probably be the worst number (people sometimes under report the actual purchase price and it obviously doesn't reflect any capital improvements done over the years). |
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