I have a single member LLC taxed as an S-Corp. I have an accountable plan to reimburse office expenses. Where do I enter this expense within the TurboTax Business program?
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The expenses that are reimbursed to members, in this case yourself, will be deducted using the expense category for which the expense was reimbursed. An example would be office supplies purchased and then reimbursed by the company when an expense report is turned in.
Thanks. So where would home office deductions in an accountable plan go in the Turbo Tax list of expenses? Rent? All other expenses?
You should set up a new miscellaneous expense and you can call it Home office Expense.
I thought Accountable Plan Expenses were reported on line 19 of the 1120S.
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