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Updated over 4 years ago,

User Stats

77
Posts
10
Votes
Byron W.
  • Chicago, IL
10
Votes |
77
Posts

Can I use check copies & credit card statements for expenses?

Byron W.
  • Chicago, IL
Posted

I'm living in a tri-plex house hack. Renting out 2 units and living in one. This is currently the only property I own. I've had work done on the building itself (roof repairs) and remodeling work in one of my previously vacant units last year. My biggest expenses were for contractor work (totaled around $8000 last year). And supplies from Home Depot.

In the event that I'm audited, would my credit card statements and copies of the checks I wrote to the contractors be enough to support my expense claims? Some of the contractors wrote me receipts, so I have those on hand. But some others did not but I did write them a check, so I have the records of those on hand. And the same goes for Home Depot purchases for supplies. I have the credit card statements but not the receipts. In a pinch, I could go to Home Depot and have them print up all of the receipts I need since all of the purchases were made on 1 credit card.


In the future, I plan to keep record of all receipts and require receipts from all contractors. And file them using some tax software.

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