To claim information about using your home as the place for the child care business, you will need to enter info in the home office section of your Schedule C. I also added some directions below on how to claim supply expenses, including food for the child care.
To get to The Home Office Deduction:
1.
Select "Business" at the top of the screen
2.
Choose "Continue", then "I'll
choose what I work on"
3.
Select "Start" next to "Business
Income and Expenses"
4.
Select "Edit" next to your business name
5.
Scroll down to Business Expenses
6.
Now select "Start" next to "Home Office Expenses"
7. After answering a few questions you should arrive to the screen that reads, "
Are you a daycare provider?" which you would answer "Yes" to.
IRC Section 162 allows a deduction
for food provided to the day care recipients. This amount is not limited by the
50% reduction imposed under IRC Section 274(n).
To Enter Your Food Expenses:
1.
Select "Business" at the top of the screen
2.
Choose "Continue", then "I'll
choose what I work on"
3.
Select "Start" next to "Business
Income and Expenses"
4.
Select "Edit" next to your business name
5.
Scroll down to Business Expenses
6.
Now select "Start" next to "Other Common Business
Expenses"
7.
Select "Start" next to "Supplies"
Yes
No
