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SCORP accountable plan: how to adjust Mortgage interest and Property taxes on 540 form

Hi

I have accountable reimbursement plan in my S corp. Under this plan I reimburse % of home office expenses to employee (I am employee and owner of scorp )

 

So I need to adjust Mortgage interest and Property taxes by amount that I reimbursed (300$ and 400$ accordantly)

 

Where should I do it correctly in TurboTax Home and Business desktop?

I did spend time to find the answer, currently what i found:

 

  • property taxes on Schedule CA(540) line 5b:
    • Open Tax and Int Wks under 1040 form
    • line 2a enter explanation “Reimbursed property taxes - S Corp accountable plan” and enter negative amount from Accountable Plan (0400$)
  •      Mortgage Interest adjustments: Schedule CA(540) line 8a column C enter explanation “Reimbursed mortgage interest - S Corp accountable plan” and negative amount from Accountable Plan(-300$)

 

IS IT CORRECT?

 

thank you

 

 

 

 

 

 

 

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SCORP accountable plan: how to adjust Mortgage interest and Property taxes on 540 form

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