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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15032
Experience:  15years with H & R Block. Divisional leader, Instructor
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I am a sub contract drive getting my 1099,how to i calulate

Customer Question

I am a sub contract drive getting my 1099,how to i calulate my meal ticket expenses.What is the formula for it
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.


It appears that you are a driver (over the road).

You can use your actual expenses or you can use the Per Diem Rates.

You can use a special standard meal allowance of $59 per day if you work in the transportation industry, which includes those whose work directly involves moving people or goods by bus or truck, regularly requires them to travel away from home, and, during any single trip, usually involves travel to areas eligible for different standard meal allowance rates.

You would use your log book and multiply the $59 for each day you were away from home.

This amount is then reduced because you are only allowed to claim 80% of the cost.

You can deduct 80% of your meal expenses while traveling away from your tax home if the meals take place during or in conjunction with any period subject to the Department of Transportation's "hours of service" limits.

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Expert:  Robin D. replied 1 year ago.

After you view my response, please post below if you need more information