My 2 partners and I (multimember llc) would like a home office deduction. How should I go about filing for this?

[charles3]

We are a multimember llc and just filed our business taxes through TT Business. According to our partnership agreement each of us are required to pay a certain amount each month for rent and other expenses. Our primary place of business is a single house in which all of us live and most of the house is allocated for business use (we run a small production company). I'd like to know how we can receive the home office deduction? Should I have filed this with our business tax or can each of us apply what we pay each month toward this home office deduction, if so then how? Each partner has already received their Schedule K-1 without the home office rent applied. 

[PatriciaV]

If you were required to pay these expenses under the partnership agreement, you may report your home office expenses on Schedule E (Partnership Income) as "Unreimbursed Partnership Expenses" (UPE). In this case, TurboTax will ask you about UPE (see screenshot below - click to enlarge), with follow-up entry at the end of the Schedule K-1 input.

Since you share the space with other partners, you would need to allocate the space (square footage) and expenses to each partner according to their percentage interest in the partnership.

There is no Home Office Deduction for a business tax return. Instead, a business may have office expenses (including an office building).

See instructions for Form 1040, Schedule E for more info from the IRS.