Capital Conservator

My mother had a stroke and can not communicate with me. I am a restaurant and her guardian. I'm selling a small rental house she owns to help pay medical bills. I have no idea what she originally paid for the house since my deceased father built a little at a time and there are no records. How do I figure the tax on capital gains on property?

Check with the county tax assessor to see when it was included on the lists of tax and the assessed value at that time.

Your best bet would probably get an assesment of the property done first. However, there may be a tax shelter, since you will use the product to medical expenses. You can go to a lawyer or CPA.

What does the county have registered as the purchase price?

In the absence of documents, unfortunately, the basis should be zero.

You send it was the rent - she was showing depreciation? Try to find an old tax return - perhaps the last year, you can get a copy of the IRS, if you do not find it, and its power of representation.

Good luck.

The only thing I can think of is to reverse the amortization schedule. Rental property is usually depreciated over 27.5 years.