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Updated 8 months ago,
Payments for renovation for selling and taxes
Hopefully a quick question. The person who is doing our remodeling work doesn't accept our mode of money transfer(like zelle or bank to bank transfer) and requires checks. We cannot as we are out of country at the moment. If our agent pays him via checks and bills us at closing, does this have any +ve or -ve impact on the taxes?
Also, is an invoice from this person enough a record for tax purposes or do we need a receipt of a payment from him?
Thank you !! Appreciate responses.