ErnieS0
Expert Alumni

Business & farm

A handwritten note will suffice. The seller’s name should be on it.

 

IRS says your supporting documents should identify the payee, the amount paid, proof of payment, the date incurred, and include a description of the item to show that the amount was for purchases. 

 

If the receipt doesn’t include all the information, you can write it in yourself.

 

Documents for purchases include the following:

  • Canceled checks or other documents reflecting proof of payment/electronic funds transferred
  • Cash register tape receipts
  • Credit card receipts and statements
  • Invoices

Note: A combination of supporting documents may be needed to substantiate all elements of the purchase.

 

What kind of records should I keep

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