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Business & farm
I made the mistake of not reimbursing, but claiming a deduction on my 1120s for business mileage from 2016 to 2019.
In 2020, my s Corp reimbursed me for that outstanding mileage, using the correct amount for each year.
Can I now list the reimbursed amount as an expense for this year's tax return? The issue is I already previously listed it as a deduction.
‎January 30, 2021
10:16 PM