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I've been using Turbotax for years and this is a great question. TURBOTAX SHOULD DO A BETTER JOB OF EXPLAINING THIS. It is listed under "Travel Expense" with the bullet point "50% of meal expenses". How does that make it easy to determine the proper amount to input?
Unfortunately, I'm not seeing a screen that is offering me that. I have revisited several times to no avail.
Under your self-employment activity, Click on Add expenses for this work to access 100% or 50% meal expenses. To report 50% meal expenses, enter $2 and the software reports $1 as the deductible expense.
The temporary exception allows a 100% deduction for food or beverages from restaurants, as long as the expense is paid or incurred in 2021 or 2022.
@ksholdaway
Do I list the 50% deductible meals in the 100% deductible meals section for 2022 schedule c taxes?
For 2022, business meals at a restaurant can be expensed at 100%. It was part of covid relief legislation.
This is an older thread, so some of the answers refer to 50% in 2020 or 2019. JamesG1, above, has noted this link with more information about the temporary exception.
@Orlando 1967
So why does TurboTax audit alert increas from low to medium if you put the meals at 100% for 2022?
Business meals can be allowable, but exceeding the occupational norm by a great amount invites an audit (e.g., 20% above occupational norms).. Business meals oftentimes can be a blurred line, so be sure to document what is and isn't a personal expense. As long as you have good documentation for meal expenses, you should be fine even if you are audited.
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