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ram1
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Travel expense reimbursement for S corp

i am a single owner-employee of an s-corp. my s-corp does business with another company (let’s call it X). i have to travel frequently for X. X reimburses my s-corp for these travel expenses and i issue a reimbursement from my s-corp to myself for these expenses. how do i declare these reimbursement amounts from X to my s-corp from a tax return perspective so there is no tax for the same?

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2 Replies
Anonymous
Not applicable

Travel expense reimbursement for S corp

on your 1040 I would report nothing.      and as for the S-Corp    you could report the reimbursement as misc income and take a deduction for the expenses.  you could even net on S-Corp.   but why not make things simple.  have the S-Corp pay the expenses

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