Fix and flip used material write off

[Ryan Nolan]

I’m working on a fix and flip and have found some great deals on used cabinets and a few other materials that I would like to buy. My question is can I write these materials off and if so how do I provide a receipt. 

[Natalie Kolodij]

The house is a FLIP guys. There is no capitalization vs. expensing. 

Also not at all what OP is asking 

@Ryan Nolan This is only an issue if you're audited. 

Any thing you spend funds on for the flip get deducted against it when it sells as Cost of Goods sold. 

Like I said- track everything as best you can IN CASE you're ever audited. 

If you HAVE to pay cash- yes do a written receipt. 

If you can use an app instead of cash so there's a trail- even better