![]() If you deduct travel, entertainment, gift or transportation expenses, you must be able to prove (substantiate) certain elements of expenses. Travel, Transportation, Entertainment, and Gift Expenses Note: A combination of supporting documents may be needed to substantiate all elements of the expense.Documents for expenses include the following: Your supporting documents should identify the payee, the amount paid, proof of payment, the date incurred, and include a description of the item purchased or service received that shows the amount was for a business expense. Expenses are the costs you incur (other than purchases) to carry on your business.Note: A combination of supporting documents may be needed to substantiate all elements of the purchase.Canceled checks or other documents reflecting proof of payment/electronic funds transferred.Documents for purchases include the following: Your supporting documents should identify the payee, the amount paid, proof of payment, the date incurred, and include a description of the item to show that the amount was for purchases. If you are a manufacturer or producer, this includes the cost of all raw materials or parts purchased for manufacture into finished products. Purchases are the items you buy and resell to customers.Deposit information (cash and credit sales). ![]() Documents for gross receipts include the following: You should keep supporting documents that show the amounts and sources of your gross receipts.
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