Yes, if you provided the food which is a necessity to run a
child care business then you can deduct it as a business expense.
Providers deduct the cost of food in
several different places on their returns including, but not limited to, the
"Cost of Goods Sold" line, the "Supplies" line, or the
"Other Expenses" line.
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).
Under IRC Section 262, no portion of
the cost of food provided to the provider's family, including food consumed by
the provider or the provider's own children, is allowed as a deduction.
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"
