Skip to main content
Level 3
June 4, 2019
Question

How to I claim home office an vehicle expenses on k-1 income from an 1120-S?

  • June 4, 2019
  • 1 reply
  • 4 views

I have home office and vehicle expenses against 1120-S K-1 income. Where is it reported?

1 reply

PatriciaV
Level 15
June 4, 2019

S corporation shareholders' business expenses, if not subject to reimbursement from the corporation, are considered unreimbursed employee business expenses

To enter these expenses in TurboTax, search for "job-related expenses." Your entries in this section will be reported on Schedule A. As miscellaneous itemized deductions, they are subject to the 2% of the adjusted gross income (AGI) floor.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"