S corp and home owner

[rexneffect21]

I'm the owner/officer of S-Corp and bought house, what forms are required to show compensation to pay for house/bills when paying myself.

[Anonymous_]

Does the corporation actually own the property? Is this your principal residence? Is the home used for business purposes?

[Rexneffect]

No the Corp does not own the home, yes it is the principal residence and it is used to store equipment and my office. Thanks for the help.

[Anonymous_]

There are ways to handle this scenario and I'll page @Rick19744 

The S corporation can pay you a fair rental price for the part of the home used for the corporation's business or you can pay the expenses personally and have the corporation reimburse you for those expenses.

[Rick19744]

Take a look at the attached IRS link.

https://www.irs.gov/taxtopics/tc509

The commentary addresses the requirements and has other links for additional discussions.

I would also recommend that you have a written agreement between you and the S corporation.

Then set up an accountable reimbursement plan at the S corporation level.  This avoids any compensation issue; assuming the home office qualifies as noted in the above documents and the reimbursement is reasonable and not an attempt to circumvent a reasonable wage.