Question:

How do you file expenses in your taxes?

by  |  earlier

0 LIKES UnLike

And would they ask for proof of your expenses? Cause the only proof I got are reciepts sent to my e-mail from paypal like years ago, do you think those would work?

 Tags:

   Report

2 ANSWERS


  1. Actually, your paypal history goes back far past 2006.  (I just pulled up one of my first sales in 2002.)

    The transaction history even gives the item description, the amount sent to you, and the amount withheld for fees.


  2. You generally have to prove your expenses when you are audited by the IRS or the State. Your receipts must be for that period you are filing taxes for and not for past years unless they somehow pertain to the taxes you are filing. The expenses must be related to the income you are filing about and must be proven if you are audited. If you have any questions about exactly what expenses are allowed, you can either contact you tax advisor or call the IRS at 800-829-1040.

Question Stats

Latest activity: earlier.
This question has 2 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.