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Get your taxes done using TurboTax
Well, you have a choice:
1. Use the sales tax table for your state and locality and forget about the jewelry, or
2. Add up all the receipts you do have (including the jewelry) and see if this amount is larger than the calculated entry for your state and local sales tax.
You get to use whichever is larger. Of course, as you know, if you use actual receipts and are ever audited, the IRS auditor will expect to see the receipts.
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March 5, 2021
7:49 PM