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URL:  http://boards.fool.com/tax-basis-on-new-home-15560118.aspx

Subject:  Tax Basis on New Home Date:  8/14/2001  9:40 AM
Author:  Renegadecj Number:  53323 of 121585

My wife & I are building a new home. Since I am doing much of the work myself, how do I figure tax basis for future sale. Do I just need to track each and every expense (down to the nails), and the IRS will accept that? What about things such as chains for chainsaws, gas driving to and from the site during construction? I know an independent contractor could deduct these things.

Any help would be appreciated!
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