Turbo tax business download for S-corp 1120S return: where do I enter home office deductions if its accountable plan reimbursed expense. Can the deduction calculation be using simplified method. Since its S-corp reimbursing officer, is it subject to net s-corp income? This is not question about how do I claim on my personal tax return, however, how to report on 1120s tax return. Its business deduction and should not be considered as taxable income to report on 1040.
You'll need to sign in or create an account to connect with an expert.
Expenses that the corporation paid under an Accountable Plan are entered as "Other Expenses".
Thanks. Is my understanding correct that its not limited by s-corp net income/loss. Although s-corp has loss, this can be still be expense under "Other deductions" which would end up on line 19 of 1120S?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jenny-vest
New Member
gangleboots
Returning Member
KarenL
Employee Tax Expert
Raph
Community Manager
in Events
Raph
Community Manager
in Events