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Level 1
posted Oct 7, 2023 11:42:04 PM

underpayment penalty expense

for 2021 i had to pay underpayment penalty for LLC income , for 2022 can i deduct that as expense for LLC?

0 1 457
1 Replies
Level 15
Oct 7, 2023 11:58:35 PM

penalties are not deductible.