S corp expenses

[eeyore1954]

A client has s corp income from 3 corps. He has plenty of mileage related to running them not on the k-1's. If I deduct them on schedule A it doesn't help because of AMT can I claim them on schedule E

[Jiggers]

S-Corp Expenses

A client has s corp income from 3 corps. He has plenty of mileage related to running them not on the k-1's. If I deduct them on schedule A it doesn't help because of AMT can I claim them on schedule E

No, you can't deduct on Schedule E.

He should have set up an accountable plan and received the IRS mileage rate reimbursement for substantiated expenses.

Deductible by the corporations, non-taxable to him.

[Roland Slugg]

Agree with Jiggers

General partners can deduct UPE on Schedule E, but S Corp shareholders can not.