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New Member
posted May 31, 2019 11:30:23 PM

How accurate should be precise amount of expenses when you file 1099k

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Level 5
May 31, 2019 11:30:24 PM

You will want to enter your expenses as accurately as possible.  Also, you will need receipts of expenses and written documentation of any mileage.  If the IRS ever questions your deductions, not having proof will eliminate them.  If that happens, it would result in owing back taxes and underpayment penalties.