topic Does the IRS accept written receipts that are being claimed as a business deduction? in Get your taxes done using TurboTax

Does the IRS accept written receipts that are being claimed as a business deduction?

Khan5ahab — Wed, 05 Jun 2019 06:11:32 GMT

I've gotten a correspondence audit letter and the IRS is requesting documents supporting a business expense for $5400 that I claim on a schedule C. I purchased the items from a local seller and he provided me with a written receipt with the items bought and the amounts paid. Will the IRS accept a written receipt? Does the receipt need to contain specific information? Name of the store, phone number? Etc.

The actual answer to your question will depend on the aud...

AnnetteB — Wed, 05 Jun 2019 06:11:33 GMT

The actual answer to your question will depend on the auditor that is working on your case, but certainly a written receipt is better than no receipt at all.

The more details provided on the receipt the better. It should show the store name, address, and phone number. It should also show the item purchased and the price paid.