Answer: This is a good question because it doesn’t seem logical until you understand IRS rules for deduction of meals and entertainment. When self-employed borrowers show a deduction on their taxes for “deductible meals and entertainment”, they deduct this amount and it lowers the Net Profit or adds to the Net Loss. On the FNMA form […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.