Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
rgoodric
Level 2

I am a rental sole proprietor LLC with expenses such as truck, phone, home office. Can I deduct this under E rather than C? If so, how - against which property?

I have done Schedule C in the past, but if I have no income on the C since it is all reported on the Schedule E, what I am writing those expenses against? Should I instead write general (ie non-individual property specific) expenses such as the truck against a specific property or divided equally under "other expenses" in each?  

1 Best answer

Accepted Solutions
DS30
New Member

I am a rental sole proprietor LLC with expenses such as truck, phone, home office. Can I deduct this under E rather than C? If so, how - against which property?

It depends - You will want to claim the truck expenses on Schedule E against each property individually based on the usage that related to each property.

As for the phone and home office, you would only be able to claim these if you used them exclusively for your rental property. You would need to determine your home office expense/business phone usage expense and allocation evenly to each property (under the miscellaneous expenses under each property).

View solution in original post

2 Replies
DS30
New Member

I am a rental sole proprietor LLC with expenses such as truck, phone, home office. Can I deduct this under E rather than C? If so, how - against which property?

It depends - You will want to claim the truck expenses on Schedule E against each property individually based on the usage that related to each property.

As for the phone and home office, you would only be able to claim these if you used them exclusively for your rental property. You would need to determine your home office expense/business phone usage expense and allocation evenly to each property (under the miscellaneous expenses under each property).

rgoodric
Level 2

I am a rental sole proprietor LLC with expenses such as truck, phone, home office. Can I deduct this under E rather than C? If so, how - against which property?

thanks!  That is what seemed intuitively correct to me, but I had been doing a Schedule C.  I will discontinue that and balance those expenses as above on the Schedule E.
Dynamic AdsDynamic Ads
Privacy Settings
v