home office s-corp

We are an s-corp and my husband and I have a home office. Our accountant has it set up for our s-corp to pay us rent and then deduct it, which is then counted as income on our personal return. Is this rent considered part of our shareholder draw?

posted

No, it is not a draw since the company deducts it on their tax return. A draw would be a non-deductible transfer of funds to the shareholders.

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In '22 I took the standard home office depreciation. For '23, I'm taking the itemized deduction, however, it is asking for last years depreciation amt which don't have?

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home office s-corp