Are meals deductible associated with a Sch E rental?

[hmosbergea]

4 related individuals each own 25% of a Sch. E rental.

1)They have lunch meetings to discuss rental activities: repairs, bills, etc. throughout year.
2)They have lunch meetings to discuss sale of rental, and sign escrow papers.

What percent (if any) of food expense is deductible as a rental expense for either 1 or 2 or both?

[sjrcpa · Accepted solution]

50%

[hmosbergea]

Thank you!

[sjrcpa]

You're welcome.

[DennyBriBri2]

where are meals 50% deducted in Lacerte for rental property?

[dkh]

In ProSeries I enter "50% Meals" on Other Expenses line

[qbteachmt]

Make sure to stay current on tax law changes:

https://www.irs.gov/newsroom/treasury-irs-provide-guidance-on-tax-relief-for-deductions-for-food-or-...