Khai
New Member

Business & farm

You have 2 options for reporting these expenses:

  1. Have your partnership reimburse you for the expense(s) and they will be considered reimbursed expenses on the partnership side.
  2. Deduct them on your personal tax return as a miscellaneous itemized deduction on Schedule A (Form 1040). Keep in mind that this option will limit your deduction to 2% of your adjusted gross income.

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