I recently sold a house that I built out-of-pocket, in my spare time. I did 100% of the work myself, with some help from my sons. Because of some serious health issues, the construction took several years. The house was never occupied or rented out. I need some guidance on what can be included in the cost basis. I know I can include costs of materials and equipment rental, but not the value of my time and labor. What about costs for electricity and heating oil during construction? Local property taxes? Debris and waste disposal fees? Cleaning supplies in preparation for selling? Tools needed for construction? Gravel, topsoil, and landscaping material like plants and grass seed? I have receipts for many tens of thousands of dollars, and now I need to sort out what can and can't be included in the cost basis. Thanks for any information you can provide.
