I received a letter in October of 2023 from my state of residence that I owed a small penalty for 2022. I paid immediately in October of 2023. Do I include this penalty payment in my 2023 taxes?
Potential areas to include my 2023 tax penalty payment in the TurboTax desktop app
- "Federal Taxes" > "Deductions & Credits" > "Estimates and Other Taxes Paid" > "Estimates" > "State estimated taxes for 2023" > "Enter More Payments"
- Schedule C (Form 1040) as an expense
Much appreciated!
Adam
