My husband owns 50% of an LLC organized as an S Corp. He is paid a regular salary and receives a W-2 and a K1. He has business expenses he has paid for with personal money and has not been reimbursed for. Do those business expenses get included in Line 12 of the K1 or separately on a Schedule C?
How does eventually getting reimbursed affect things moving forward? He was not reimbursed in the same calendar year.
