Partnership reimbursed a partner for part of his rent (storage) and internet usage at home. How does the partner account for the reimbursement? I am thinking it goes to a Schedule E. Can he deduct his home rent and his internet expense to offset the reimbursement?
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Anyone in the know please give advice...
*shamelessly push this question back to the topic* -
Can you not just expense the items to the partnership and the money to pay it is like an investment to him--my knowledge and experience is EXTREMELY limited on partnerships though. Or are you just going from his K-1?Comment
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The partner does not have income to the extent that the partnership reimbursed him for expenses he incurred on behalf of the partnership.
MaribethComment
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I'm still thinking this is partnership expense, not income to him as a partner?!Comment
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Yes, to Maribeth, and, yes, to SuperMom.Comment
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