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Tax Year 2016: 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

Tax Year 2016: 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


Tax Year 2016: 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?

Tax Year 2016: 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. 

Tax Year 2016: 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

Tax Year 2016: 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.

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Tax Year 2016: 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? 

Tax Year 2016: 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?

Tax Year 2016: 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
Expert Alumni

Tax Year 2016: 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

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