Mortgage interest deduction for home office

Forum|Forum|1 year ago
March 14, 2025
1 reply
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I have taken a portion of my mortgage interest for a home office deduction for my S-Corp. I have the completed K-1 for the business (TurboTax Full Service Business), but I don't see how that portion is captured on my personal taxes (TurboTax Premier Desktop). My schedule A still has 100% of the interest included. How do I capture this in TurboTax?

RobertB4444

Your S-corp isn't entitled to a home office deduction in the same way that a sole-proprietorship on schedule C would be able to. So the system is not rolling the interest over for you. If you want to take a deduction for the office portion of your home expenses that is fine. But you will need to make the entries into the 1120-S and into your 1040 manually.

@Fran D

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Fran DAuthor

So, they exist in the 1120-S, rolled up into a generic "office expense." How do I account for that on the 1040?

PatriciaV

Employee

Whatever portion belongs to your personal residence would be reported as Mortgage Interest and Property Taxes in TurboTax Premier under Deductions >> Your Home. Because you are allocating these expenses between a business return and your personal Form 1040 return, you will need to do the allocation calculations yourself.

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