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1040 input

Primcess
Level 2

Does the program have the Worksheet from Pub 587 for a Home Office Deduction for a Partner in a Partnership?  If so where is it?

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5 Comments 5
Just-Lisa-Now-
Level 15
Level 15

If it does, its in the UPE section of the partner's the K-1 worksheet.


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Just-Lisa-Now-
Level 15
Level 15
I just took a quick glance around in there, I didn't see a way to link to an 8829 or an OIH worksheet, sorry.

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PATAX
Level 15

Be careful before claiming the home office deduction... Read up on the strict rules for claiming it... That home office must be exclusive business use... This deduction has been a red flag for the IRS for years... just my opinion...

BobKamman
Level 15

"Red Flag" is a favorite term of journalists who write stories about alpaca farms one day and tax returns the next.  Did you know the original "red flags" were those attached to returns of IRS employees, to make sure they were all audited?  There are no little men with green eyeshades looking at tax returns to spot OIH deductions, so that red flags can be attached to them.  Red flags are an urban tax myth.  Always good for a cheap headline, though.  

Terry53029
Level 14
Level 14

Owners of partnership interests can deduct home office expenses on their individual Form 1040, U.S. Individual Income Tax Return. If the expense is of the type the partner is expected to pay without reimbursement, the partner can deduct the expense on Schedule E, Supplemental Income and Loss, as "unreimbursed partner expense" (UPE). Per Schedule E instructions, UPE should be reported on a separate line of the section reporting partnership expense, along with the name of the partnership, a description of the amount, and the notation "UPE." Form 8829 can be used to determine the appropriate deduction, but the form itself does not need to be filed.

Just click on "where do I enter", and type in UPE. A worksheet pops up, and that is where you enter the home office expense