What receipts do I need for tax deductions?
An example of an AI chatbot conversation about tax deductions and required receipts.
What receipts do I need for tax deductions?
You typically need receipts for expenses like medical bills, charitable donations, and business-related costs.
Are there specific forms I should keep for business expenses?
Yes, keep receipts for any business-related purchases, travel expenses, and meals. Form 1040 Schedule C is often used.
How long should I keep these receipts?
It's recommended to keep tax-related receipts for at least three years after filing your tax return.
What if I lost a receipt?
If you lose a receipt, you can often use bank statements or credit card statements as proof of the expense.
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