How to Record your Unreimbursed Partnership Expenses (UPE) on Form 1040 Schedule E

If you are a partner in a partnership, and you actively participate in running the business, there may be occasions where you have to personally pay for business expenses out of your own pocket.

If you do, you should seek reimbursement from the company. However, in some cases, you can deduct the unreimbursed expenses directly on your federal tax return.

Purchase our tax guides and tutorials here:
https://www.udemy.com/user/jason-knott-2/
https://gumroad.com/jasondknott

Check out our website for more posts:
https://www.lawofficesofjasonknott.com/blog/

Need more help? Schedule a consultation:
https://calendly.com/jason-knott

Follow Jason here:
Twitter: https://twitter.com/jasondknott
Instagram: https://www.instagram.com/jasondknott
TikTok: https://www.tiktok.com/@jasondknott
LinkedIn: https://www.linkedin.com/in/jason-d-knott/
Patreon: https://www.patreon.com/jasonknott
Quora: https://www.quora.com/profile/Jason-Knott-17

#IRS #Form1065 #PartnershipExpenses

DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal or accounting strategies demonstrated in this video. Thank you.