Mortgage interest deduction for home office

[Fran D]

I have taken a portion of my mortgage interest for a home office deduction for my S-Corp. I have the completed K-1 for the business (TurboTax Full Service Business), but I don't see how that portion is captured on my personal taxes (TurboTax Premier Desktop). My schedule A still has 100% of the interest included. How do I capture this in TurboTax?

[RobertB4444]

Your S-corp isn't entitled to a home office deduction in the same way that a sole-proprietorship on schedule C would be able to.  So the system is not rolling the interest over for you.  If you want to take a deduction for the office portion of your home expenses that is fine.  But you will need to make the entries into the 1120-S and into your 1040 manually.

@Fran D 

[Fran D]

So, they exist in the 1120-S, rolled up into a generic "office expense." How do I account for that on the 1040?

[PatriciaV]

Whatever portion belongs to your personal residence would be reported as Mortgage Interest and Property Taxes in TurboTax Premier under Deductions >> Your Home. Because you are allocating these expenses between a business return and your personal Form 1040 return, you will need to do the allocation calculations yourself.

[Fran D]

I figured this out. There's a box to check on the 1098 step-by-step page that states, "The interest amount I entered is different from what's on my 1098." I then I add a supporting statement to identify the portion claimed on my 1120-S.