2007-01-08 11:20:36 · 5 answers · asked by Bat 1 in Business & Finance ➔ Taxes ➔ United States
There are several types of deductions for which the IRS will accept 'contemporaneous notes' as evidence of expenses. This means if you keep a log book showing all expenses of a given type (auto expenses for example), it is not necessary to have every receipt to support the record.
2007-01-08 12:10:48 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
If your question is can you claim something and not have proof, the answer is NO. If you do not have written documentions you can not claim the deduction. Why don't you have a receipt for the money that you want to claim. Some people put bogus deductions on their income tax returns, but if you get audit you will owe more than the deduction. You will owe the amount of the deduction plue late penalties. It is not worth it--
2007-01-08 19:28:45 · answer #2 · answered by D S 4 · 0⤊ 2⤋
Yes, unless you get selected for an audit or the return is revised, then you will need proof. However, there are some exceptions, such as cash contributions under $250.
2007-01-08 19:28:38 · answer #3 · answered by Michael B 1 · 0⤊ 0⤋
Of course!
And if you get audited by the IRS, you lost the receipt.
2007-01-08 19:29:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You can claim it but if it is disallowed you would need a receipt to prove your case.
2007-01-08 19:26:44 · answer #5 · answered by andywho2006 5 · 2⤊ 0⤋