topic Turbo tax business download for S-corp 1120S return: where do I enter home office deductions in Business & farm

Turbo tax business download for S-corp 1120S return: where do I enter home office deductions

sscorp — Sat, 08 Aug 2020 15:54:15 GMT

Turbo tax business download for S-corp 1120S return: where do I enter home office deductions if its accountable plan reimbursed expense. Can the deduction calculation be using simplified method. Since its S-corp reimbursing officer, is it subject to net s-corp income? This is not question about how do I claim on my personal tax return, however, how to report on 1120s tax return. Its business deduction and should not be considered as taxable income to report on 1040.

Re: Turbo tax business download for S-corp 1120S return: where do I enter home office deductions

AmeliesUncle — Sat, 08 Aug 2020 16:28:58 GMT

Expenses that the corporation paid under an Accountable Plan are entered as "Other Expenses".

Re: Turbo tax business download for S-corp 1120S return: where do I enter home office deductions

sscorp — Sat, 08 Aug 2020 19:35:11 GMT

Thanks. Is my understanding correct that its not limited by s-corp net income/loss. Although s-corp has loss, this can be still be expense under "Other deductions" which would end up on line 19 of 1120S?