top of page

Documentation Needed for Rent Deductions

  • Writer: Evan Kirkpatrick
    Evan Kirkpatrick
  • Feb 28, 2018
  • 1 min read

The U.S. Tax Court ruled that a corporation couldn’t deduct expenses for the purported rental of part of the home of its sole shareholder and employee.

A C corporation may be able to deduct payments made to lease home office space from an employee (or its owner) as rent if the expenses are ordinary and necessary and connected with the business.

However, in this case, the court ruled that the taxpayer didn’t produce evidence of a written rental agreement or other documentation to support the position that the amounts claimed were rent payments.

Commenti


Non puoi più commentare questo post. Contatta il proprietario del sito per avere più informazioni.

Austin (formerly Godwin & Associates)

4501 Spicewood Springs Rd, Suite 1005

Austin, Texas 78759

512.615.2023

Round Rock

101 E. Old Settlers Blvd, Suite 130

Round Rock, Texas 78664

512.246.9669

  • LinkedIn - White Circle
  • White Facebook Icon
  • White Twitter Icon

© 2024 by Kirkpatrick CPA PLLC

bottom of page