RobertB4444
Expert Alumni

Get your taxes done using TurboTax

Yes, the limit on cash paid out without a receipt that is deductible is $0.  The IRS requires a paper trail in order to prove any number is real and photos of the improvements and cash withdrawals do not cover it.  The IRS would consider cash payments with no receipts as gifts given to the people who worked on your property unless they paid taxes on the money that you paid them.

 

@jlindsey1 

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