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How to enter Nutrition for children payment summary in 1040 for child day care business

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Level 1

How to enter Nutrition for children payment summary in 1040 for child day care business

I received a payment summary for a client child day care business that has a line :Total amount of taxable income and total deductible food expenses.

Do I need to use these information in 1040?

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Level 11
Level 11

Are you preparing a schedule C for a day care business ? Sounds like nutrition for children is the daycare's food cost which is an expense. If this is your first daycare return you should do some research, as a lot of small daycare providers miss a lot of expenses. Food cost is a big one they miss out on, because they are unaware they can use Tier I rates in effect at the beginning of 2019: $1.31 breakfast; $2.46 lunch/supper, and $. 73 snack. If I misunderstood your question, let me know

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Level 15
Level 15

Has the client already included this income and these expenses in their business income/expenses theyve given you?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 11
Level 11

Are you preparing a schedule C for a day care business ? Sounds like nutrition for children is the daycare's food cost which is an expense. If this is your first daycare return you should do some research, as a lot of small daycare providers miss a lot of expenses. Food cost is a big one they miss out on, because they are unaware they can use Tier I rates in effect at the beginning of 2019: $1.31 breakfast; $2.46 lunch/supper, and $. 73 snack. If I misunderstood your question, let me know

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Level 1

Thank you Champ. I will have to ask the client if the income and food expenses are already included in their income statement.

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Level 15

Use the search box at https://www.nafcc.org/ for a great deal of information


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