Hey all,
If someone is selling a house at a large profit that was bought long ago for a significantly cheaper price, there would be significant capital gains tax. However, the original cost of the house is increased by the fact of the cost of significant renovation on the house. My question is, what options would you have if it's difficult to find the receipts and documentation for some of the work that was done -- any options to consider in this situation? All thoughts and advice are appreciated!
Thank you,
Sam