Home Office exps on form 1120s (S-Corp)

[AZ-Tax]

I am correct that "Home Office" exps would be reported on line 20 within line 19 "other deductions worksheets"? Or is there something similiar to form 8829 within form 1120s for which the worksheet automatically calculates the % of the gross home exps (util, ins, taxes, mortgage interest, etc.) that is used for office OR will I need to do this manually? All my other S-Corp clients have commercial office space.

[Uncle Sam]

Home Office Expense on 1120S

If the IRS wanted to allow "office in home deductions" for S Corps they would have devised Form 8829-S and provided a proper line to insert the amount..
Assuming you are not female, you must do it manually.

[thomtax]

Assuming you are not female, you must do it manually.

Deviously put - very sneaky.

[joanmcq]

It's because there isn't one.

It becomes an unreimbursed employee business expense, Form 2106 on the personal return.

If you have an accountable plan, it would be different.

[Uncle Sam]

joanmcq- Excellently put - that was EXACTLY my point.

[oceanlovin'ea]

I believe that if the minutes of the corporation specify that the corporation will reimburse the employee/shareholder for a portion of the "operating expenses" you may take that deduction as a deduction under other expenses.

But it would only be things like the utilities and insurance. Mortgage interest and real estate taxes would not be allowed. And no depreciation.

Linda, EA

[joanmcq]

Right; and that would be under an 'accountable plan', just like any other employee fringe benefit. I would keep strict documentation, including the requirement to submit expense reports for the reimbursement.