taxguyak
Level 3
03-01-2025
11:54 AM
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Company is S-Corp Homecare qualifying for Notice 2014-7 tax free waiver income due to shareholder taking care of homecare patients in the home that she lives in. Is it correct to enter the waiver income, then deduct the waiver income as a Notice 2014-7 expense? Therefore, all other expenses such as wages, supplies, would not be deducted since the waiver income is tax free.
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