Unfinished Home Office Renovation

[EEA LLC]

I am a sole owner of a S-Corp.  I started to renovate part of my home into a home office.  I obtained a loan to fund the construction. However, this project is turning into more problems than it's worth.  I want to scrap the project.  I spent approximately $129K from my business,  can I deduct this expense on my 2020 business tax return?  If so, how much?  I will be in the red if I deduct the full amount.  An prompt response would be much appreciated.  Thank you.

[Critter-3]

Since the business doesn't own the home it cannot deduct any home business expenses unless  they rent space from you  and then you will need to report the rent on a Sch E where you can depreciate the portion of the home basis.  The money the corp spent on your home is a draw to you and not a deduction.  

[EEA LLC]

If I take the $129K as a distribution it will result in a significant capital gain on my personal tax return.  Is there any other options, like (reluctantly) continuing with the construction?