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Updated over 6 years ago,

User Stats

31
Posts
7
Votes
Mark Lucido
Pro Member
  • Investor
  • The Colony, TX
7
Votes |
31
Posts

IRS Form 8825 - Other Misc. Expenses

Mark Lucido
Pro Member
  • Investor
  • The Colony, TX
Posted

Is there an expert on the 8825 that can advise what's the best way to handle Misc. Expenses such as Accounting, Office Expenses, Suplies, Tools, etc.? I just started my LLC in 2015 and filed my return last year logging these transactions under standard Business Expense deductions instead of on the 8825. This ends up showing a business loss (since all my income is on the 8825 under Rental Income) and when it comes time to do my personal taxes, I end up having to enter two separate K1's in Turbo Tax on my personal return: one for the Business Income/Loss and one for Rental Income/Loss. Does it really matter where these expenses are tracked?

Thanks

mark

  • Mark Lucido
  • Loading replies...