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

Forum|Forum|7 years ago
June 5, 2019
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TurboTax Self Employed Online

Best answer by IsabellaG

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.

IsabellaGAnswer

Employee

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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