Receipts for tax deductions

zetta · #1 (**permalink**) 03-07-2009, 08:00 PM

Is keeping a copy of your credit card bill sufficient for tax purposes, or do you have to have the actual receipt for each purchase?

sweeps · #2 (**permalink**) 03-07-2009, 08:07 PM

Why Your Credit Card Statement Might Not Prove a Tax Deduction

MonkeyMama · #3 (**permalink**) 03-08-2009, 09:01 AM

I'd keep receipts, for sure. More info is better, in case of audit.

momof1in150 · #4 (**permalink**) 03-08-2009, 09:19 AM

I keep receipts. I usually photocopy the receipts as they fade quickly and are easier to store. They do make a gizmo that you can scan them into your computer, or just place them on the scanner and scan a page at a time.

Like2Plan · #5 (**permalink**) 03-09-2009, 05:02 PM

I thought the gold standard was a receipt from the charity with a statement whether or not you received any benefit from the donation (which if you did, you would have to subtract from the donation amount).

m3racer · #6 (**permalink**) 03-09-2009, 07:37 PM

Quote:

Originally Posted by MonkeyMama

I'd keep receipts, for sure. More info is better, in case of audit.

According to that link it seems that keeping a credit card statement would be adequate as long as the amount is <$75.

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