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For business deductions, can I just upload by credit card statements instead of looking for each receipt?

 
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IsabellaG
Expert Alumni

For business deductions, can I just upload by credit card statements instead of looking for each receipt?

You can enter your business expenses by any reasonable and accurate means of record-keeping, including your credit card statements However, if you are audited by the IRS for these expenses, it is likely that the underlying receipts would be required to show the business nature of the expense. So hold on to the receipts.

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1 Reply
IsabellaG
Expert Alumni

For business deductions, can I just upload by credit card statements instead of looking for each receipt?

You can enter your business expenses by any reasonable and accurate means of record-keeping, including your credit card statements However, if you are audited by the IRS for these expenses, it is likely that the underlying receipts would be required to show the business nature of the expense. So hold on to the receipts.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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