It is my understanding that I can depreciate the value of my home (less land) as it relates to the portion used as my home office for my K1 business income. Where is this figure then entered in Turbo Tax. Do I just enter it under Miscellaneous Supplemental Expenses? Please advise.
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Yes, there is no special form to enter your home office expenses on a partnership or S corporation tax return like Form 8829 that you use for a sole-proprietor schedule C. You calculate your home office deduction separate from your tax return and enter the total as a miscellaneous expense on your business tax return.
Yes, there is no special form to enter your home office expenses on a partnership or S corporation tax return like Form 8829 that you use for a sole-proprietor schedule C. You calculate your home office deduction separate from your tax return and enter the total as a miscellaneous expense on your business tax return.
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