Home office

[Unregistered]

S corp client, one share holder/owner, has home as main office.

Where should he deduct offcie in home deduction - on S corp return or personal return?

Thanks!

[Matt Sova]

No where

An S-Corp does not have a home office form. He can do an accountable plan and reimburse him self out of the S-Corp for the appropriate percentage of Utilities and Insurance. I never reimburse for Taxes and Interest since they are deducted on Schedule A.

[KJ Judd]

Or he can take the home office deduction on Schedule A, but subject to 2% of AGI. So I usually use the approach Matt recommends