If you are audited and you cannot document your deductions, they may be disallowed. You will be responsile for the extra tax, and there may be a penalty assessed. There will certainly be interest charged on the newly assessed tax. Since you have financial records to support your deductions, just not the original receipts, all may not be lost. You should be able to contact the places where you spent the money (or credit card companies) and get replacement receipts from their records.I wouldn't worry about this, however, until I knew I was being audited.Ira
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