Do you need to have receipts to show adjusted cost basis improvements? Can you use credit card statement to show where you shopped to get materials ie Home Depot or Lowes

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It depends. Do you need to send receipts to the IRS to claim adjusted cost basis improvements: only if they ask for them. You wouldn't need to send them with the return, but if you are audited, you will want to keep them for your records. A credit card statement is a paper trail that can track your expenses.

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