Yes, this is easily done.
First, does your partnership agreement require you to pay office
expenses out of your own pocket? If yes, you will need to calculate the
expenses and enter them into TurboTax. If not, you won't be able to take
a deduction for office expenses.
You will have to use one of the attached worksheets to figure the actual home office deduction. Either use your detailed
expenses on the Worksheet to Figure the Deduction for Business Use of Your Home, or the simplified office square footage method (basically $5 per square foot of office, max of 300 sf up to ) on the Worksheet to Figure the Deduction for Business Use of Your Home (Simplified Method).
After you have filled out one of these worksheets, go through the Schedule K-1 questions for your partnership.
On the screen titled Describe the Partnership, select the box for I am required to pay supplemental business expenses on behalf of this partnership/LLC for which I am not reimbursed. (see screenshot below)
When you get to the Miscellaneous Supplemental Expenses screen,
- Enter the allowable expenses for the business use of your home from the worksheet you used into the amount field.
- Enter Business Use of Home in the description field.
Note: The amount of the deduction computed using the simplified method cannot exceed the gross income derived from the qualified business use of the home for the taxable year, reduced by the business deductions that are unrelated to the qualified business use of the home.
ref: IRS
Publication 587 Business Use of Your Home
