Schedule C or Schedule K1 on Individual 1040 tax return?

I have X amount of $ income from an LLC that I run with my wife, so, I file a 1065 for LLC and each one of us have get a Schedule K1 with X/2 amount as income. Now on our personal tax 1040, I want to claim a Home Office deduction and that, as I understand has to entered on Schedule C of 1040. Now, where do I report my income from the business? Should it be on Schedule C as income or as a partnership income? If we go Schedule C rout, Schedule C only shows a net loss from the business bcause of deductions whereas, I am reporting my income from the Business on Line 17 of 1040. Should I just do a Schedule C (with income reported on it) and not enter my Schedule K1 on line 17? Any help with this is appreciated. How exactly do I add Home Office Expenses to 1065 ? I am using Turbotax Business and I just cant find any way to add Home Office expenses to it. Unless, I just do the worksheet (in IRS pub 587) and then attach that to 1065.

Public Comments

  1. If the home office was for the partnership, the expense goes on the 1065 and flows to the K-1 there.
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