What records do I need to keep to prove my deductions?

When filing taxes in Washington, it is important to keep records of all deductions claimed. These records allow the IRS to verify your deductions and make sure no information has been omitted. To prove your deductions, you should keep all documents that support them. For example, if you claim deductions related to business expenses, you should retain receipts and invoices to show how much you spent. Additionally, you should also save any bank or credit card statements showing payment for the items. If you wrote checks for the expenses, keep copies of the canceled checks. If you made charitable donations, have a record of the name of the charity, the date of the donation, and the amount. You’ll need to provide evidence that you donated to an IRS-approved organization. Keep copies of any documents that report income such as 1099 forms for interest income, W-2s from employers, 1098s for mortgage interest or tuition payments, and 1095-A for health insurance coverage. By keeping these records, you can prove any deductions you make while filing your taxes. It is wise to keep these records for at least three years, so you can provide evidence if you get audited by the IRS.

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What records do I need to keep to prove my deductions?

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