Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
rmalone
New Member

How do I deduct Home Office expenses on Turbotax Business (Partnership)?

When I try to enter normally on Schedule C it does not put through the deduction since there is no income.  The income shows up on the K1 form.  I am 90% owner on the K1.

1 Reply
RichardK
New Member

How do I deduct Home Office expenses on Turbotax Business (Partnership)?

The ordinary and necessary business expenses the partnership agreement requires you to pay are reported on Form 1040 Schedule E page 2, click here for Instructions to Form 1040 Schedule E, (see page E-9 Unreimbursed Partnership Expenses), click here for information on the home office deduction for partners in a partnership.

To enter partnership expenses in Turbo Tax Self-Employed:

·        Open the return

·        Select the Personal tab

·        Scroll down to Business Investment and Estate/Trust Income section

·        On the Schedule K-1 line, click Start

·        Go thru the screens and answer the questions, until you get to the Describe the Partnership page

·        On the Describe the Partnership page, click the box I am  required to pay supplemental business expenses on behalf of this partnership/LLC for which I am not reimbursed expenses, click Continue

·        On the Unreimbursed Partnership Expenses page, click Yes

·        Click through the following screen and enter the appropriate amount

NOTE: You will calculate the amount allowed as a home office deduction, and you can enter that amount on the Miscellaneous Supplemental Expense screen

Dynamic AdsDynamic Ads
Privacy Settings
v