How do you document the basis of your home when selling

[cmg1]

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?

[Vanessa A]

A lot of what you listed is not deductible as part of the basis.  

Obviously, the construction of the home is deductible.  The part the contractor did, his labor and then the materials you provided.  Your labor does not have any dollar value for tax purposes.

You cannot deduct curtains, paint, caulk and such that was used for routine maintenance or repairs.  Only things that added to the value of the house or extended the life of it.  So, if you did plumbing repairs, they would not be added to your basis, however, the plumbing installed when building your house would be part of the original construction cost.

You do not need to itemize the costs for your taxes.  You will just enter the total cost basis.

As for documentation in case of audit, a spreadsheet showing all of this information is great.  Receipts to back it up is even better.