Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
danielabney
New Member

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

 
9 Replies
KarenL2
Level 5

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

Yes, you can deduct the per diem rate.  It goes in the Meals & Entertainment area of your business expenses. 

You can find the current Per Diem rates for the location to which you traveled at this link http://www.gsa.gov/portal/content/104877.  Remember to select the correct tax year (2016) from the drop down menu.

Travel, Per Diem, and More


Burningeye
New Member

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

But...can a self-employed person use the per diem rate for lodging too, when staying overnight for business out of town? Or must I submit hotel receipts for this?
Critter
Level 15

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

For lodging only the actual expenses can be used. 

hans-filbert
New Member

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

Hello. Do you know how to put it in quickbooks?

CatinaT1
Employee Tax Expert

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

This is a TurboTax Community.  You might want to check on the QuickBooks Community.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
lnk-fr
Level 2

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

Do I deduct 50% of the per diem rate or the full amount?
Also I'm self employed and it was for real estate rental business. I don't think there's a place for meal and entertainment for rental real estate. Would it go under Travel instead? 

leviton11
Level 1

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

Did you find an answer to the 50 percent question?

lnk-fr
Level 2

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

I don't remember exactly, but I believe per diem rates don't apply for investment property because the IRS doesn't view that as a business. I hope someone else an chime in to verify.

JosephS1
Employee Tax Expert

Per diem deduction. Can a self employed person deduct the per diem rate or does it have to be actual expense with receipt?

No, you cannot take a per diem deduction for investment property.  Investment property expenses must be specific and itemized by category.  Your question does not state whether this relates to rental property, land investment, or any other.  All investment property expenses must be specifically identified.  

 

If you would like more information please see the links below:

 

Small Business and rental deductions

IRS Publication 527

 

@leviton11

@ink-fr

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.61m
Discussions

Manage cookies
v