Skip to main content

New answers tagged

0 votes

1120s line Taxes and licenses

When in doubt - go to the instructions. See the instructions for Form 1120S Line 12: Don't deduct the following taxes on line 12. Federal income taxes (except for the portion of built-in gains tax ...
littleadv's user avatar
  • 177k
0 votes

1120s line Taxes and licenses

No. Federal taxes are not deductable from federal taxes, though some kinds of state and local taxes may be. The money you owed last year has little effect on what you need to do this year, except in ...
keshlam's user avatar
  • 48.2k

Top 50 recent answers are included