The Augusta Rule 280a Explained

[@ThreeOaksWealth]

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[@davidm71]

Do you have to be the home owner?? Lets say I live with my friend who is the home owner and I pay her the $150 per month. Can I make same deduction? Thanks

[@AlCalvo]

Does this rule apply for apartments? I own a multiple business and one of them its an scorp but i still don't own a home

[@realrajiv]

Thank you. I have an S-Corp and my primary home of stay is also my primary place of business. Can I still do Augusta/14 days rule. On a side note, I am reimbursing home expenses on 1120S via my S-corp accountable plan and employee expense reimbursement.

[@christinaibanez1988]

I don't believe it can be your business, it has to be your primary residence.

[@ThreeOaksWealth]

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[@ppronti]

Ummm... How the hell is $1500 income a deduction? I thought it is an expense that is deductible?

[@ThreeOaksWealth]

It's a deductible business expense. Your business pays you the individual $1500 for renting the home. As long as you don't rent the house out for more than 14 days per year you (the individual) don't have to claim the $1500 as income.

[@ShootStraight84]

That’s not even worth the trouble … too little to claim

[@lica1961ful]

Only 14 days is pathetic. It should be 140 days😂

[@realrajiv]

Thank you. I have an S-Corp and my primary home of stay is also my primary place of business. Can I still do Augusta/14 days rule. On a side note, I am reimbursing home expenses on 1120S via my S-corp accountable plan and employee expense reimbursement.

[@ThreeOaksWealth]

I don’t see why not. But you should ask you tax professional.