Open TurboTax

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

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.46m
Members

2.57m
Discussions

Manage cookies
v