Can I use my debit card statements for reciepts I have lost?

Question

I will be Itemizing my taxes for the first time next year, I believe i will be using a form 1060 for expenses I occur on the road. My new job requires me to work out of town alot and I have lost a few motel reciepts. Can I use my debit visa statement as proof for my tax deductions and write offs? thank you in advance for any advice

Answer 1

No, credit and debit card statements will not suffice at audit.  You need to prove what the expenditure was for along with the date and the amount.  Statements cover the date and amount, but rarely identify what was purchased.  Therefore you will need receipts to back up your claims if you are audited.

You file form 2106 to claim employee business expenses.  The total then flows to Schedule A as a miscellaneous itemized deduction.

Answer 2

I am going to have to a least partially disagree with the other poster.

Myself,  I was told yes and bank statement is ok.    Now,  the tricky part.  If it just for the cost of the rooms you should be ok.  No tips,  no extra services (Tv, Meals, phone, tips, room service, bar etc)  To be sure check with a tax preparer.    

Answer 3

Call the hotels with the dates.  They can fax you a new copy of the invoice.  While the IRS will often accept the card statement for airfare, parking, and rental cars, the can't tell if you ordered room service at the hotel, etc.