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Daycare and Taxes>Meal Deduction
AnythingsPossible 01:30 PM 04-13-2012
I was going over last years taxes and noticed that it (turbo tax) placed my daycare meals on line 24b under expenses, which places it under travel. Will that cause problems or a red flag at some point? Where should the meals go on the expenses part?
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TomCopeland 04:05 PM 04-13-2012
I recommend putting your food expenses on line 27 Other Income. Line 24b is where you would normally put meals you paid for to take your clients out to eat. You can only deduct 50% of your meal expenses. Since your food expenses are likely to be large, I would not put them on 24b.
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AnythingsPossible 07:31 PM 04-13-2012
Thanks Tom, got it put in the right place!
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Tags:deduction - meals, tom copeland
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