Meal deduction of business meeting among Partnership partners

SunnyVeeTee · ‎February 17, 2020

Hi,

2 other partners and I in a general partnership meet together for lunch and discuss about rental property business that we have together. We meet once or twice a year. Can we deduct 100% of the ordinary meal in the "Meals and Entertainment Expenses" in TT business software ?

Thanks!

AlanT222 · ‎February 17, 2020

Your meals would be in the 50% deduction category. In your case, you would enter the total amount of the meals and TurboTax do the math.

100% deduction is for:

Meal expenses for a company picnic or holiday party
Food made available to the public for free
Reimbursed expenses to employees and contractors that is included on the W-2 or Form 1099 as taxable compensation
Meal expenses that are sold to a client or customer, like providing meals as part of a daycare service

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View solution in original post

AlanT222 · ‎February 17, 2020

Your meals would be in the 50% deduction category. In your case, you would enter the total amount of the meals and TurboTax do the math.

100% deduction is for:

Meal expenses for a company picnic or holiday party
Food made available to the public for free
Reimbursed expenses to employees and contractors that is included on the W-2 or Form 1099 as taxable compensation
Meal expenses that are sold to a client or customer, like providing meals as part of a daycare service

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

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Meal deduction of business meeting among Partnership partners