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Deductions & credits
Sorry, but unlike a partnership, the home office expenses are not deductible on the personal return. If the corp doesn't own the home you can "rent" space to the company and the rent would be a deduction on the corp return but the income would have to be reported on the Sch E or Sch C on the personal return along with the correlating expenses. Hopefully you and anyone else working the business are on the payroll and filing proper payroll tax reports and issuing yourself W-2 forms. From 2018 thru 2025 an employee cannot deduct employee business expenses on a personal tax return Sch A.
‎June 17, 2023
9:10 AM