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Self employed
Claiming the home office deduction for an LLC would depend on how the LLC is classified for tax purposes. Since you received a K-1, I assume your LLC is classified as a partnership and files a 1065 form. If this is correct, being able to claim the home office deduction would depend on whether the partnership agreement requires you to pay office expenses out of pocket. If the answer is yes, you will enter the information following these steps in TurboTax Online:
- Click Wage & Income
- Scroll Down to S-corps, Partnerships, and Trust, click show more
- Click start next to Schedule K-1
- Click Start/Update next to Partnerships/LLC
- Click Add or enter next to K-1
- Continue through interview questions until you get to "Describe the Partnership" choose "I am required to pay supplemental business expenses on behalf of the partnership/LLC for which I am not reimbursed."
- Click Yes for "does your partnership/LLC agreement require you to pay any expenses out of your pocket."
- Continue the interview questions and list all office expenses you pay out of pocket for the LLC.
- When you get to the Miscellaneous Supplemental Expenses screen, enter the allowable expenses for the business use of your home from the worksheet you used from IRS Pub. 587 - Business Use of Your Home.
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March 10, 2023
8:49 AM