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Tax Tips for lost Receipts.

By
Services for Real Estate Pros with Randi Brammer, Acctg.

For some of the lost receipts that you can't find, try this.

Call the vendor and ask for a copy.

The phone companies will give you the info right over the phone.

So will Cell phone providers.

Medical and pharmacies will give you a printout for the year.

Credit card interest will be on your last statement. 

Banks will give you the amount of your mortgage interest if you just ask.

Many receipts can be reproduced if you ask the vendor. 

You could always just guess, but you could be wrong and guess low.  A few quick phone calls can get you on the right track with most all of your deduction.

Comments(5)

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Vern Eaton
Askov, MN
Realtor 651-674-7449

Great idea Randi.  I had not thought about thiss, but most of these vendors do keep all the records.

Feb 23, 2012 09:16 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Randi,  Oh my gosh. That sounds like a lot of work (LOL).  Much more work than just keeping good records in the first place.  I know many don't.  When tax time comes it becomes far more daunting than it needs to be if only good records were in place.  Great tips for those who don't have receipts. 

Feb 24, 2012 03:34 AM
Randi Brammer
Randi Brammer, Acctg. - Hinckley, MN
Accountant & Tax Preparer

Vern....It does work great.

Kathleen...it is more work, but if you need the stuff and can't find it....it is an option.

Feb 24, 2012 07:01 AM
Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

Randi ~ very timely information.  Receipts can get lost so easily or even thrown out for that matter.

Feb 25, 2012 05:36 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Randi...good tip.  It jsut costs more in prep fees if you file an extention.

Feb 28, 2012 06:44 AM