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I dont know if i'm doing this right. I have a 2 member LLC and want to use form 8829 to deduct home based expenses. first year filing

I realize i may have started all wrong and not needed to do any of this as we are member managed LLC. should this have all been on my personal return?
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MaryK4
Expert Alumni

I dont know if i'm doing this right. I have a 2 member LLC and want to use form 8829 to deduct home based expenses. first year filing

No, unless both members are married and in a community property state, your LLC should file a partnership return unless they elect to be a corporation.  The Partnership would issue a Schedule K-1 which is entered on the individual return.  If you had unreimbursed office expenses, you would associate with the K-1 income and include the 8829.

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MaryK4
Expert Alumni

I dont know if i'm doing this right. I have a 2 member LLC and want to use form 8829 to deduct home based expenses. first year filing

No, unless both members are married and in a community property state, your LLC should file a partnership return unless they elect to be a corporation.  The Partnership would issue a Schedule K-1 which is entered on the individual return.  If you had unreimbursed office expenses, you would associate with the K-1 income and include the 8829.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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