K1 deductions

[Jim90220]

Can any K1's out there give specific examples of things they deduct as unreimbursed partnership expenses? Things like car, travel, home office, CME, phone/electronics, ect. And are you having to put specific working in your contracts that protects these deductions? Thank you in advance.

[jfoxcpacfp]

Can any K1's out there give specific examples of things they deduct as unreimbursed partnership expenses? Things like car, travel, home office, CME, phone/electronics, ect. And are you having to put specific working in your contracts that protects these deductions? Thank you in advance.

I can think of no circumstance in which it would be allowable for a partner to deduct a car (perhaps you could post the fact pattern here). Business mileage that is not a commute, yes. Otherwise, the above are deductions we have taken for clients. Also lunch for the office, business % of professional/CPA advice, scribe, supplies, business % of phone, iPad, etc. Note that your partnership agreement is supposed to have some kind of defining language that it will not reimburse certain partner expenses or can be more broad - this is something to discuss with the attorney who prepared/is preparing the ptr/mbr agreement.