https://ttlc.intuit.com/community/taxes/discussion/underpayment-penalty-expense/01/3097025#M1131306 <P>for 2021 i had to pay underpayment penalty for LLC income , for 2022 can i deduct that as expense for LLC?</P> Tue, 24 Feb 2026 07:52:21 GMT joycog23 2026-02-24T07:52:21Z https://ttlc.intuit.com/community/taxes/discussion/underpayment-penalty-expense/01/3097025#M1131306 <P>for 2021 i had to pay underpayment penalty for LLC income , for 2022 can i deduct that as expense for LLC?</P> Tue, 24 Feb 2026 07:52:21 GMT https://ttlc.intuit.com/community/taxes/discussion/underpayment-penalty-expense/01/3097025#M1131306 joycog23 2026-02-24T07:52:21Z https://ttlc.intuit.com/community/taxes/discussion/re-underpayment-penalty-expense/01/3097026#M1131307 <P>penalties are not deductible.&nbsp;</P> Sun, 08 Oct 2023 06:58:35 GMT https://ttlc.intuit.com/community/taxes/discussion/re-underpayment-penalty-expense/01/3097026#M1131307 Mike9241 2023-10-08T06:58:35Z