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Old 03-31-2009, 08:35 PM
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Reimbursements

Should reimbursements be added to the total on a K1?
For example I received reimbursements for electric costs. Does this amount get added to the total of payments I received and reported on a K1?

Thanks,
Joe



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Old 03-31-2009, 08:56 PM
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No, reimbursements are not added back into the reportable K-1 to the shareholder. As such, these reimbursements really are expenses to the corporation that have been expensed on the Form 1120S.

The fact that the corporation has paid you for these reimbursements does not mean that these should be considered as income. Thus, you should not include these as additional income on your K-1.

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