Armed Forces Reservist Education Expense (Form 2106)

[AnonymousUser3]

Hi, 

Is a white elephant gift acceptable for the business gift (under $25.00) portion of the 2106?

Ref: 

Business Gifts

 

by TurboTax•Updated December 07, 2023

You can deduct up to $25 for business gifts to any one person.

See IRS Publication 463 for more information on business gifts.

[BillM223]

Is this deduction in relation to being an Armed Forces Reservist? If so, how does a white elephant fit in with travel expenses?

"The amount of expenses you can deduct on Schedule 1 (Form 1040), line 12, is limited to the regular ..."

[AnonymousUser3]

Hi, it asks for business expenses less than $25.00. Similar to education expenses that are deducted for Reservists, i.e. more here at ref: https://ttlc.intuit.com/community/business-taxes/discussion/armed-forces-reservist-education-expense...

Would this deduction apply?  Please LMK, thanks.

[RobertB4444]

Business gifts are gifts made by or for increasing your business income.  If your white elephant gift was under $25 and was made as part of your business in order to further your business activities then it is deductible.  If it was just an optional game you played with the folks you work with then it is not.

@AnonymousUser3