Ian Bryzek, CPA
How do you establish basis for a home bought decades ago?
A forty-year-old purchase price is only the beginning of a usable inherited-property tax file.
Long-held homes often outlive the people who remember every remodel, refinance, and ownership change.
The original price can be relevant history, but date-of-death value, later work, and ownership facts need their own evidence.
What to gather
- Original deed and closing statement
- Old tax returns with depreciation or improvement schedules
- Permit records and contractor invoices
- Date-of-death appraisal or historical valuation
- A timeline of title changes
Who usually handles what
- Ian can organize the tax reporting question and the supporting records.
- James Valdez can provide an independent residential fair-market-value appraisal.
A practical next step
Start an ownership-and-improvements timeline before relying on anyone's memory.
When a property value is part of the picture
When residential real estate needs a supported fair market value as of a relevant date, an independent appraiser may be part of the documentation process. Ian does not determine fair market value.
Related guides
This is general tax information, not tax or legal advice. Outcomes depend on the documents, ownership, timing, and law that apply to the particular facts.