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ffm
Returning Member

Re: Deductions for S Corporation on Personal Tax Return

if the sub s corp used section 280A(g) they can get the home rental and tak cash out od sub s corp tax free.  14 days of rent are tax free  they have stockholders and board of directors meetings an

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2 Replies

Re: Deductions for S Corporation on Personal Tax Return

please read this thread.  

https://accountants.intuit.com/taxprocenter/tax-law-and-news/how-your-s-corporation-clients-can-use-... 

you may be not in compliance with several of the rules to allow tax free reimbursement

1) area must be used exclusively for business. 

2) having an accountable plan. Nonaccountable would result in any reimbursement be taxable income to be reported on your w-2 with no deduction. 

 

ffm
Returning Member

Re: Deductions for S Corporation on Personal Tax Return

under section 280A(g) does not apply to your answer

 

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