Rental Property Income Deduction Question

[jbstav17]

Hello,

I am a partner in a multimember LLC that rents out homes.

We will be filing form 1065 and attach form 8825 for rental income. We will each receive K1s and report on our personal returns.

I have two related questions with possibly the same answer. I am partners with two others, they are providing the capital and I am managing the property. We split it 33/33/33.

1. For car mileage deduction, we don't have a company car, but I will be using my personal vehicle to drive back and forth to the house and get supplies, etc. Would I then deduct this on my personal return? Where would I do this? It is my understanding that I would not be completing a schedule E because everything is already reported on the K1. Or does this go somewhere on the 1065? We arent all driving the miles, just me.

2. Same question for home office deduction. I will have an office, but the other partners will not.

Thank you!

[tagteam · Accepted solution]

See https://www.irs.gov/instructions/i1040se#en_US_2022_publink24332td0e1927

You can only deduct unreimbursed ordinary and necessary partnership expenses you paid on behalf of the partnership on Schedule E if you were required to pay these expenses under the partnership agreement.

In TurboTax, you can enter the expenses after you enter the information from your K-1 (1065).