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Old 03-10-2014, 11:10 PM
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reporting rental income for home office paid by employer

Not sure the proper way to report rental income received from my employer for office use as I worked from home. I will have no deductions, only income. No 1099 was issued



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Old 03-11-2014, 02:37 AM
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Originally Posted by dmgregg View Post
Not sure the proper way to report rental income received from my employer for office use as I worked from home. I will have no deductions, only income. No 1099 was issued
aslongas it is biz related rent exp, then you need to submit w9 to your employer and he needs to issue you 1099; I don't think there is any way you can avoid this income as rent income on 1040 Sch-E. And, rent income from an employer would disqualify you from claiming reimbursement, any home expenses, or OIH deduction. The employer is risking that on audit he could be subject to payroll taxes and penalties if the IRS reclassifies the payments as taxable employee benefits. Deductions for the business use of a home are potentially available only if the use falls into one of the four categories ;Those categories are specified home office uses storage of inventory or product samples in the home rental of the property; and use of the home in providing day-care services. In general, the business expenses associated with those uses are deductible only if the individual's business use of the home is regular (rather than occasional or incidental Contingent upon or pertaining to something that is more important; that which is necessary, appertaining to, or depending upon another known as the principal.



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