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Business & farm
No, Turbo Tax will not warned you if expenses are deductible or non-deductible. The person navigating the program must be aware that not all business expenses are qualified business expense.
The 2017 TCJA generally eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation. However, taxpayers may still deduct business expenses related to food and beverages if certain requirements are met.
March 18, 2021
7:48 PM