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Deductions & credits
Hi Irene, my K-1 is from an S-Corp.
I have an LLC which will be treated as S-Corp for taxes. I had setup an accountable plan for reimbursement of business related expenses to the employee.
I am the S-Corp officer, and I want to deduct the cost of home office expense that has been reimbursed to the S-Corp officer under accountable plan. Can I use this deduction if I am renting an apartment and using 1 room as office space ?
Would I be able to use $5 per square foot or just a % of total home expenses ? Please help
‎June 18, 2020
8:11 PM