Checklist of What Rules and Information the IRS Will Be Verifying

Deductions & Expenses - Gifts

____ You did not deduct more than $25 for a business gift to any one individual.

____ You did not deduct the cost of a gift made to your superior.

____ You are able to establish that the amount deducted was for gifts and was paid.

____ You deducted unreimbursed business gifts as miscellaneous deductions on Schedule A and only to the extent that the miscellaneous deductions exceeded 2% of your adjusted gross income.

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