Taxpayers must maintain written contemporaneous records of business purpose when traveling in order to claim a deduction for the expenditures.

Question

Quizplus · Accepted Answer

This is true according to IRS regulations for claiming deductions on travel expenses. The records should include date, place, and business purpose of the travel, as well as the costs of transportation, lodging, meals, and any other expenses incurred during the trip.

Taxpayers Must Maintain Written Contemporaneous Records of Business Purpose When