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Old 01-20-2013, 11:44 AM   #61 (permalink)
marino5084's Avatar
Join Date: Dec 2007
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Originally Posted by HoustonCPA View Post
Whenever possible, get a receipt. It sounds to me that you know up front the cash value of your purchase and withdraw just that amount from the bank each time. If you do not receive a receipt, I would write on the withdrawal slip the contents of the purchase as the slip would already contain the date and amount of the purchase. In absence of those, I would write your own receipts for your records and keep any other form of proof you can obtain that would also document the purchase.

I have this backwards in the OP. The 1099, much like your W-2, has to be postmarked to the recipient by January 31st. The IRS's copy is not due until February 28th. I would still wait to the end of February if you believe you should receive one as some preparation may be delinquent.

When I get some more time, I will update the OP for the additional questions in this thread.
Paypal has posted my 1099 on their site. Can I use this to file taxes?

Can I just use my year end statement as a receipt. It shows all payments received and all payments made and shows a wash (actually a small loss), or do I have to provide all receipts?

My main transactions are for group breaks and I do not profit on my breaks as others do.
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