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Get your taxes done using TurboTax
@biv1982 wrote:
Ok, so basically just keep the record of the wire transfer I'll send them with a full refund and it'll be good enough for my tax return and if IRS ever needs to verify it, I can just show them that wire transfer?
It's not just the fact of the wire transfer, but why. You would need to prove it is a legitimate business expense of your subcontracting business. So keep proof of the reason as well as the date and amount.
‎August 19, 2020
5:55 PM