Partnership 1065, K-1; how to deduct non-reimbursed expense?

2014-01-29 1:58 am
Two man partnership, 13,000 income, 4,000 rent, 6,000 other deductions . I completed the 1065 and brought over $1,500 per partner to the K-1, line 1 Ordinary business income to be brought into schedule E.

Both partners have mileage and paid their own cell phone bills - business related. Where would this expense be noted and deducted off their 1040? What forms and lines would it be entered on?

Thanks in advance.

回答 (4)

2014-01-29 2:08 am
✔ 最佳答案
It is on the schedule E noted UPE - Unreimbursed Partnership Expenses - BUT!!!!!!!!!!!!!!!!!!

Your actual written partnership agreement MUST have a clause in it that allows the partners to deduct it.
2014-01-29 5:04 am
If it's not in the written agreement, you just made a capital contribution and the partnership deducts it.
2017-01-20 5:54 am
1
2015-08-12 11:05 pm
BOB YOURE SUCH A LOSER. IM NOT EVEN 12 YOU CREEP PERV.


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