How can we reduce the capital gains tax on an inheritance without receipts?
We are the beneficiary’s of a home sale left in Trust. The home was purchased for only $35,000 and sold for $146,500. There are no receipts for any of the improvements, but there are 3, very obvious improvements made: the old asbestos siding was removed and vinyl installed, a 2nd full bath was added and the garage was completely rebuilt. Is there any way to obtain an estimated cost of these improvements and use them as deductions against the capital gains tax without showing receipts?