Are state tax fines & penalties deductible on 1120s

rinori Posts: 1, Reputation: 1

New Member

Feb 24, 2010, 08:40 PM

Are state tax fines & penalties deductible on 1120s

Are state tax fines & penalties deductible on 1120s?

MukatA Posts: 7,110, Reputation: 176

Tax Expert

Feb 25, 2010, 02:18 AM

Yes.

treenaught Posts: 1, Reputation: 1

New Member

Mar 10, 2011, 12:19 PM

On 1120, tax penalties go on sch M-1; on 1120s, they are non-deductible, going on sch k.

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