Schedule C - non-monetary compensation

[Guest allen293]

Hi all,

Do the rules on non-monetary compensation apply to just indirect compensation or both indirect and direct compensation, on the 2009 Schedule C? So, in other words, do the rules on non-monetary compensation apply to meals, tickets, gifts, etc. received directly from the plan? Is non-monetary compensation received directly from the plan reportable compensation on the Schedule C?

It would make sense if non-monetary compensation concerned both indirect and direct compensation. But much of the guidance I've seen out there treats non-monetary compensation as a subset of indirect compensation. The directions aren't very clear on this.

Or is the logic that non-monetary compensation received directly from the plan is considered indirect compensation?

Thanks for your thoughts.