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Hello, I own a c-corp and pay myself w2. I do have a few business expenses I pay on aftertax income that I paid w2. How should I file?

I am hving trouble figuring out how to take a millage deduction and office expense deduction on my w2 income
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1 Reply
Carl
Level 15

Hello, I own a c-corp and pay myself w2. I do have a few business expenses I pay on aftertax income that I paid w2. How should I file?

The C-Corp would have issued you a W-2 (as you stated) and probably a K-1 also. (Can't recall on the K-1). On your personal taxes you'll claim any qualified expenses under the Deductions & Credits tab when you get to that point in the program, in the Job Related Expenses section.

Just make sure you don't double-dip. If you claimed vehicle expenses on the 1120, don't claim them again on your personal tax return. Else it comes back to bite you in about 24-36 months after you file.

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