cooneykd-kc
Level 2
12-07-2019
04:59 AM
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Terry53029
Level 14
12-07-2019
04:59 AM
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does your s corp. have an agreement that partners are not reimbursed for travel and mileage expenses, if so then put them on schedule E supplemental expenses work sheet
abctax55
Level 15
12-07-2019
04:59 AM
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@Terry53029 - that works for partners/partnerships. It doesn't work for employees (ie S-corp).
In rereading the OP tho....what IS an S-corp partner anyway ?!?!
@cooneykd.kc - please clarify exactly what entity you are referencing.
In rereading the OP tho....what IS an S-corp partner anyway ?!?!
@cooneykd.kc - please clarify exactly what entity you are referencing.
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Terry53029
Level 14
12-07-2019
04:59 AM
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sorry I saw partners, and jumped the gun. abctax is correct
abctax55
Level 15
12-07-2019
04:59 AM
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OR, I saw S-Corp & jumped the gun.
NMI
NMI
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cooneykd-kc
Level 2
12-07-2019
04:59 AM
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Sorry I meant shareholder, you used to be able to attach a 2106 to the K-1 from the Scorp would show on schedule E as a deduction
cooneykd-kc
Level 2
12-07-2019
04:59 AM
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Thanks Terry
TaxGuyBill
Level 15
12-07-2019
04:59 AM
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As was pointed out, that has NEVER been a deduction for Schedule E. Form 2106 USED to be a deduction on Schedule A, but that is no longer valid on a Federal return.
IRonMaN
Level 15
12-07-2019
04:59 AM
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S corps don't have partners, or unreimbursed mileage deductions for the shareholders. Have the Corp write a check for the mileage in the future.
Slava Ukraini!
abctax55
Level 15
12-07-2019
04:59 AM
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Employee business expenses...which are gone with the wind for 2018 on F 1040. Some states didn't conform tho.
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abctax55
Level 15
12-07-2019
04:59 AM
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@cooneykd.kc
While you may not LIKE my answer, it is correct. And the fact you "used to be able to do it* doesn't make it right.
The main (maybe the only) legit UBE adjustment to page 2 of Sch E for shareholders is for interest paid to acquire the stock.
While you may not LIKE my answer, it is correct. And the fact you "used to be able to do it* doesn't make it right.
The main (maybe the only) legit UBE adjustment to page 2 of Sch E for shareholders is for interest paid to acquire the stock.
"*******Tax software is no substitute for a professional tax preparer*******
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