In my LLC, I had to pay a penalty for filing taxes late. I paid the penalty from my personal account. Where to I account for this payment and is it deductible?

posted

Connect with an expert

1 Reply

No, Federal tax penalties and interest are not deductible on your return.

Still have questions?

Questions are answered within a few hours on average.

*Must create login to post

Unlock tailored help options in your account.