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Thread: Totalling receipts for deductions

  1. #1
    Featured Member paintgoddess's Avatar
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    Totalling receipts for deductions

    I have a somewhat strange question regarding totalling up the receipts I have kept for dance gear. Do I deduct the subtotal for the actual items purchased (before sales tax has been added) or do I deduct the grand total that was rung up?

    Example:
    Sale platform shoes Red.........30.00
    Sale platform shoes white.......30.00
    Sale rack top.......................10.00
    gown..................................10.00
    garter..................................5.00
    black go-go boots.................50.00

    Subtotal..............................135.00
    Sales tax...............................9.50
    Total.................................144.50

    Do I use $135 as the deductible amount or $144.50???
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  2. #2
    Senior Member DanMorris95156's Avatar
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    Default Re: Totalling receipts for deductions

    You are allowed the full cost including sales tax for your deductions.

    Regards,

    Dan
    Daniel D. Morris, CPA
    [email protected]

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