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Deductions & credits
No, DON'T enter the vehicle for depreciation on the corporate return if the corporation does not own the vehicle.
Are you talking about 2020? It is too late for an Accountable Reimbursement now. If the corporation reimburses you now, it would be a Nonaccountable Plan, and the reimbursement needs to be added to your W-2 wages.
Corporation tax returns really are NOT a do-it-yourself thing. You REALLY need to be going to a good tax professional for the corporate return.
‎February 24, 2021
2:04 PM
8,088 Views