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S Corp Home Office Payment
I am a partner in a S Corp which pays each of its partners a fixed fee for the use of home offices (we have no offices as a company). This amount is reported to me on a 1099-MISC. I have an addition on my home which was made as a home office which i use specifically as my business office so I need to be able to deduct the cost of that space against this 1099 income. When trying to put this into TurboTax it wants to call this business income and report it on a Schedule C not as income reported on an Form 8829. How do i fix this?
‎February 12, 2022
9:22 AM