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Partnership LLC with my spouse for a daycare run out of our home. K1 Deduction Question
We're 50/50 partners in an LLC for the daycare that she runs out of our home. She gets guaranteed payments, but I do not claim any. The LLC did build quite a bit of capital this year, half of which shows on my K1 as income for me.
My question is, do we both claim the same home office deductions? Or are we supposed to split the total deduction in half as well? Perhaps one claims it and the other does not?
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‎February 28, 2025
10:29 AM