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Get your taxes done using TurboTax
Sorry, I'm an s corp and the expenses were for meals that I don't have proper records for so I can't claim them as deductible per the IRS rules. One item is a gift I bought for an employee for doing a good job, which I later learned is not deductible. That's about it.
I'm not trying to claim anything regarding these purchases on my business or personal return. The only place this appears to come in to play is reconciling my income statement/balance sheet in TT.
From what I gather, it appears I should simply add these additional expenses to the M-1 Worksheet so things reconcile. Does that sound right?
Thanks for the help.
‎September 15, 2020
6:39 PM