Carl
Level 15

Deductions & credits

I a running tally of expensed, with dates and vendors sufficient?

In many cases, yes. The documentation only comes into play if the IRS has cause to audit you on it. Typically, they only have cause if they have a reasonable suspicion of intentional criminal fraud to defraud the IRS.  I've only heard of things like that happening to the likes of Al Capone.

Keep in mind also that if the property was your primary residence for at least 2 of the last 5 years you owned it, counting back from the closing date of the sale, then you will qualify for the capital gains tax exclusion.

If you are single then the first $250K of gain is tax free. If you are married, filing joint, and both you and your spouse lived in the house as your primary residence for 2 of last 5 years, then the first $500K of the gain is tax free.