100 percent entertainment for a partner

Forum|Forum|4 years ago
March 21, 2022
5 replies
19 views

which line to use for 100 percent deductible entertainment? On E - supplemental business expenses

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qbteachmt

Level 15

Where did you find that 100% entertainment is deductible? Or, that any entertainment is deductible?

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E

ellenmAuthor

Level 3

you are kidding right?

qbteachmt

Level 15

"you are kidding right?"

Well, I thought you were the one kidding!

Even before TCJA, entertainment was not deductible in nearly all conditions. There were very slim definitions that would provide for entertainment as a business expense, and you asked also about Partner.

Why not provide the details of what you have and what you want done with it?

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IRonMaN

Level 15

Entertainment is now 100 percent deductible? I must have been so interested in the 100% meal deduction at my tax class that I must have missed that one.

Slava Ukraini!

qbteachmt

Level 15

I like using the web resources, rather than read IRS code (although Cornell's presentation is nice). I also wanted to find a resource that includes recent changes such as CAA:

https://www.cohencpa.com/insights/articles/consolidated-appropriations-act-allows-100-percent

https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-a-comparison-for-businesses

https://www.irs.gov/pub/irs-drop/td-9925.pdf

https://www.irs.gov/pub/irs-drop/n-21-25.pdf

"The 2017 TCJA generally eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation. However, taxpayers may still deduct business expenses related to food and beverages if certain requirements are met.

These final regulations address the disallowance of the deduction for expenditures related to entertainment, amusement or recreation activities, including the applicability of certain exceptions to this disallowance. They also provide guidance to determine whether an activity is considered entertainment. The final regulations also address the limitation on the deduction of food and beverage expenses."

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