Question
Standard Meal Allowance for Child care providers
Hello all, I just want to make sure I am correct here. We own a child care center, and just formed an S corp in 2016 (previously were just an LLC, filing schedule C). This year I'm using TurboTax Business because of that fact. We have taken the SMA (Standard meal allowance) for meals served at our facility during our first 14 years of business instead of actual food costs (this is clearly explained in the TurboTax Home and Business version of the software while completing Schedule C), but this is not mentioned anywhere when entering deductions in TurboTax Business. I assume this deduction would remain the same while filing as an S corp, and entered under "other expenses", correct?
