Do I need to attach an explanation to expenses under $200 for supplies, Legal and Professional Fees, etc. on Form 1120?

[ShirleyK]

A lot of the expense categories have "explain this" in blue print with a line under it.  If clicked on there is an explanation for the expense is that what this is .....an explanation for the person filing or do they want the filer to attach an explanation?

[KittyM · Accepted solution]

"Explain this" is additional help from TurboTax to assist you in determining what categories to enter your expense items in.  The category you choose is sufficient information for the IRS' purposes.

You should keep on hand your receipts to back up your entry if the IRS requests details.