Explore BrainMass

Completeing A Comprehensive Schedule C With Home Office

This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

This is a full tax return, but I only need help with the schedule C and the per diem, that is the only thing I do not understand.

© BrainMass Inc. brainmass.com March 21, 2019, 6:08 pm ad1c9bdddf


Solution Preview

The taxpayer may use the per-diem rates listed in Publication 1542 for their MI&E (Meals and Incidentals Expense) for each day they are conducting business. However, they are allowed only 50% of the rate as a deduction. This person traveled prior to October 1, 2008 to Chicago, so the rates in Table 1 of that publication were in effect. The rate for ME&I (lodging must be claimed as actual for each travel day) is $58, so the ...

Solution Summary

In this solution, I complete a Schedule C for a taxpayer claiming travel expenses (including per-diem for meals) and who has a home office. There are several PDF files attached.