Commercial Fisherman standard meal allowance. Calculating meal expense using the per diem method. Where are the results of the Per diem recorded? Sched C?

[George4Tacks · Accepted solution]

If you can not find what you think to be an appropriate line, then write a short phrase with the amount and put it in Part V. Things like Fuel $X,  Required meals $Y, 

I know this is for the owner, but I am thinking you want some type of line by line for Sch C, so try this http://www.jdunman.com/ww/Business/SBRG/publications/p59507.htm

Good luck!

[earisby]

Excellent! Thank you very much!!

[qbteachmt]

@earisby

For this: "Am I truly the first Commercial Fisherman that has ever tried to account for this deduction??"

If you are not a professional tax preparer, preparing this for a Client, and instead are a DIY person, perhaps you meant to be asking the TurboTax Community. This is not that community.

[George4Tacks]

Not Self Employed - tough luck, but maybe 2106 will work for the state. 

Meals and Entertainment on Schedule C if self employed - the program will take the haircut. 

Amount of deduction. 

In most cases, you can deduct only 50% of your business meal expenses, including meals incurred while away from home on business. However, for individuals subject to the Department of Transportation (DOT) hours of service limits, that percentage is increased to 80% for business meals consumed during, or incident to, any period of duty for which those limits are in effect. Individuals subject to the DOT CAUTION ! hours of service limits include the following.

 • Certain air transportation workers (such as pilots, crew, dispatchers, mechanics, and control tower operators) who are under Federal Aviation Administration regulations. 

• Interstate truck operators who are under DOT regulations. 

• Certain merchant mariners who are under Coast Guard regulations. 

However, you can fully deduct meals and incidentals furnished or reimbursed to an employee if you properly treat the expense as wages subject to withholding. You also can fully deduct meals and incidentals provided to a nonemployee to the extent the expenses are includible in the gross income of that person and reported on Form 1099-MISC. See Pub. 535 for details and other exceptions

[earisby]

I am aware of the write off for traveling meals. (Travel, Meals , Entertainment.) line 24 and 25 Sched C This is a separate situation from that. This involves all the food eaten during the time fishing that the fishermen are all charged for. My share charged to me is 25% of the total food cost. Then there is also the fuel that I am charged for (25%) and Incidentals that I am charged for (25%). I have seen several places on the IRS website where this deduction is offered. (Under Fishermen's Meal Deductions, Calculating Meal Expense and Per Diem) The question is where do I record these deductions on the Sched C? So far all I know after talking to several accountants and these forums is that it is not lines 24 or 25 Sched C.... I do not have a confirmation of this but I am going with Part V (other expenses) wish me luck!

[earisby]

This is really amazing to me, no one out there seems to know the answer to this ?.....Am I truly the first Commercial Fisherman that has ever tried to account for this deduction??

[abctax55]

I'm sure there are many, many professional tax preparers who are familiar with where the deduction is best taken.  We just don't have any that volunteer their time on this forum.