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Get your taxes done using TurboTax
In publication 463, I think I fall under exception #3:
"Exception to the 50% Limit for Meals
Your meal expense isn’t subject to the 50% limit if the expense meets one of the following exceptions.
3—Self-employed reimbursed expenses.
If you are self-employed, your deductible meal expenses aren’t subject to the 50% limit if all of the following requirements are met.
If you (as an independent contractor) have expenses for meals related to providing services for a client but don’t adequately account for and seek reimbursement from the client for those expenses, you are subject to the 50% limit on non-entertainment-related meals and the entertainment-related meal expenses are nondeductible to you."
You have these expenses as an independent contractor.
Your customer or client reimburses you or gives you an allowance for these expenses in connection with services you perform.
You provide adequate records of these expenses to your customer or client. (See chapter 5.)
In this case, your client or customer is subject to the 50% limit on the expenses.
Example.
You are a self-employed attorney who adequately accounts for meal expenses to a client who reimburses you for these expenses. You aren’t subject to the limitation on meal expenses. If the client can deduct the expenses, the client is subject to the 50% limit.If you (as an independent contractor) have expenses for meals related to providing services for a client but don’t adequately account for and seek reimbursement from the client for those expenses, you are subject to the 50% limit on non-entertainment-related meals and the entertainment-related meal expenses are nondeductible to you."
Where do I enter these expenses? In the category for 100% deduction in TT, it gives many examples, but none are similar to this IRS example..
March 5, 2024
3:12 PM