On your business return (form 1120S), you can report the monthly website fees and the virtual office rent as Computer services/supplies under Common business expenses.
Once you have entered all income and expenses on your business return, the profit/loss is allocated to each shareholder's schedule K-1.
Each shareholder will then enter the schedule K-1 in their personal return and TurboTax will transfer information from the schedule K-1 to Schedule E and then to form 1040. Each shareholder does not enter any detailed income or expenses on their personal return, just the Schedule K-1.
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