I built my home in 1986. I contracted some of it and did a LOT of it myself. I also added improvements and additions over the last 38 years like a rec room, retaining walls, a pier, deck, etc, which I again did almost all of the labor. I LITERALLY have over 1000 receipts and a spreadsheet totalling them up by category, since day one from the contractors and every roll of wire, outlets, fixtures, nails, screws, caulk, retaining walls, pavers, paint, concrete, curtains, plumbing, carpet, wood, tile, and the original lot purchase, etc, etc.
What would be an acceptable way to document all of that onto one piece of paper so when I, my wife or my kids have to sell it, we have the correct basis? More importantly, if audited, how to prove the basis without the need to dump 1000 receipts on an IRS auditors desk?
