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June 3, 2019
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If my company claimed things already this year on the taxes, am I able to claim the same things on my taxes as part owner?

  • June 3, 2019
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Best answer by Coleen3

No. Expenses are only deducted one time. If it is deducted on a business return, it is not deducted anywhere else. The exception would be a home office. You can deduct the business percentage of use on Schedule C and the personal part of mortgage interest, property taxes and PMI on Schedule A. These can't be the same expense, however, they must be prorated.

1 reply

Coleen3Answer
Employee
June 3, 2019

No. Expenses are only deducted one time. If it is deducted on a business return, it is not deducted anywhere else. The exception would be a home office. You can deduct the business percentage of use on Schedule C and the personal part of mortgage interest, property taxes and PMI on Schedule A. These can't be the same expense, however, they must be prorated.