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taxmap/pub17/p17-064.htm#en_us_publink100033028

Host or Hostess(p85)


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If you host a party at which sales are made, any gift you receive for giving the party is a payment for helping a direct seller make sales. You must report it as income at its fair market value.
Your out-of-pocket party expenses are subject to the 50% limit for meal and entertainment expenses. These expenses are deductible as miscellaneous itemized deductions subject to the 2%-of-AGI limit on Schedule A (Form 1040), but only up to the amount of income you receive for giving the party.
For more information about the 50% limit for meal and entertainment expenses, see 50% Limit in Publication 463, Travel, Entertainment, Gift, and Car Expenses.
previous pagePrevious Page: Publication 17 - Your Federal Income Tax - Canceled Debts
next pageNext Page: Publication 17 - Your Federal Income Tax - Life Insurance Proceeds
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication