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entertainment expense deductions for 1993 or for any such expense
for 1994.
2. Real Estate Management
In their amended petition and at trial, petitioners argue
that they are entitled to additional deductions for the “standard
per diem allowance for meals when traveling” with respect to their
Schedule E activity in both 1993 and 1994.
Petitioner testified that based on his review of his
receipts, he is entitled to claim a per diem allowance for 38 days
in 1993 and 38 days in 1994. Petitioner did not share with the
Court any business purpose, specific location or dates making up
the 38 days in each year for which he seeks deductions, nor did he
advise the Court of the legal authority on which he based his
position.
The Commissioner’s Rev. Proc. 90-15, 1990-1 C.B. 476,
provides that in lieu of actual expenses, self-employed
individuals may, in computing a deduction for ordinary and
necessary meals and incidental expenses (M&IE) paid or incurred
for travel away from home, use the Federal M&IE rate for the
locality of travel for the period away from home. The per diem
rate will be deemed substantiation of the amount for purposes of
section 1.274-5T(b)(2) and (c), Temporary Income Tax Regs., 50
Fed. Reg. 46016 (Nov. 6, 1985), provided that the “self-employed
individual substantiates the elements of time, place, and business
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