How do I use 8829 on personal return to calculate depreciation for home office for S-corp business? It is forcing me to 4562 to enter depreciation on personal return?

Forum|Forum|6 years ago
April 26, 2020
11 replies
51 views

No text available

ProConnect Tax Online

This topic has been closed for replies.

sjrcpa

Level 15

"home office for S-corp business" is not allowable on a 1040. The S Corp should reimburse the S corp owner/employee for the expenses under an accountable plan.

The more I know the more I don’t know.

C

christinAuthor

Level 2

I am using the form on the 1040 to calculate the amount for the S-corp reimbursement under their accountable plan. It has an option to link it to the S-corp and calculate it, but I can't get the system to calculate depreciation - I have to manually override the numbers.

qbteachmt

Level 15

If the Accountable Plan doesn't include the terms by which the employee gets reimbursed for "office" costs, then why not use the $5 per square foot method, as you see is provided for in tax regulations? Why are you trying to add a depreciation component to a personal residence? That just becomes a problem, later.

Don't yell at us; we're volunteers

Sign up

Login with SSO

Let's get you signed in

Login with SSO