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A Partner in a Ptr uses his car to call on clients in a construction business.. can i take income from k-1 to a form C and claim certain auto expense misc

Submitted: 2033 days and 7 hours ago.

Category: Tax

Value: $5

Status: CLOSED

Accepted Answer

You should claim those expenses on Schedule E as a separate line item along with the income from the K-1. I generally make a separate line listing the partnership name, etc and then put "expenses incurred on behalf of partnership" or something like that. Normally, this would also reduce the amount of self-employment income as well.

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Accepts:
Expert:	Jon Andrews
Pos. Feedback:	99.7 %
Answered:	4/29/2004

Certified Public Accountant (CPA)

I deal with all levels of tax planning and controversy - from the ordinary to the complex.

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A Partner in a Ptr uses his car to call on clients in a construction business.. can i take income from k-1 to a form C and claim certain auto expense misc

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