skgroup
Level 1
‎03-13-2022 06:04 PM

I paid underpayment penalty in year 2021 for tax year 2020.

Is this a deductible expense?

Thank you

Subhash S. Kithany

 

0 Cheers
sjrcpa
Level 15
‎03-13-2022 06:22 PM

No. Penalties are not deductible.


The more I know the more I don’t know.