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Business & farm
As long as you have a valid S corporation election in effect, a return (1120-S) must be filed with the IRS.
See https://www.irs.gov/instructions/i1120s#idm140355079064496
If you have an accountable plan, you can pay the expenses, the corporation can reimburse you for those expenses and then deduct them on its return (the K-1 you receive will reflect those expenses in the form of a business loss, most likely).
March 4, 2021
8:36 AM
1,692 Views