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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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My husband and I run an LLC. The LLC is ran as a partnership

Customer Question

My husband and I run an LLC. The LLC is ran as a partnership that issues a K-1 to both me and my husband. We pay taxes on the business income through our 1040.With that being said, we run the business out of the home. 15% of our home is used exclusively for business (no personal use in that area). My question is, what is better - to include the home office expenses in the business expenses on the 1065 and deduct them before the K-1 is issued? or should I use the home office deduction on 1040?
Submitted: 1 month ago.
Category: Tax
Expert:  ABC Accounting Group replied 1 month ago.

Hi. Great Question. I would use them on the 1065 - it flows right to the 1040 vs. placing them on the 1040 directly, since they could be considered as an itemized expense, which has to be over a certain limit, before you can deduct them.