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Category: Tax
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Experience:  CPA with tax experience.
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On Form 1120 what deductions go on line 26?

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On Form 1120, Line 26, Other deductions - What type of schedule need to be attached. Can it be a simple table in a word file ? Hoe much detail is to be provided. For example, for travel expenses, do we need to itemize for air, lodging, meals incidental etc. The income for the C-corporation is less than $300,00. I am wondering, level of details to be provided in the attached schedule. Appreciate if you can answer detailed and provide any examples you have.


Thanks for your question.

The statement can be a table in MS Word. The amount of detail is really up to you but it should provide a minimum level of detail broken down by the categories listed in the Form 1120 instructions for Line 26. Other Deductions . For example:

Legal and Professional Fees..........$100.00

For Travel, Meals and Entertainment, you should at least separate the Travel from Meals & Entertainment since the latter is subject to a 50% limitation.

Here is an example of a Form 1120 (see statement 3 for "other deductions").

Hope this helps,

Best regards,

JKCPA and 4 other Tax Specialists are ready to help you
Customer: replied 7 years ago.

Is 1099-Misc paid to independent contractors also should be listed in this shedule?

That depends on the type of work the independent contractors did. If it was repairs/maintenance, it would be listed on line 14.....advertising on line 22....anything to do with your inventory (cost of labor)-Schedule A, line 3. If it was not one of these types of work, you can include as "Other Deductions" on line 26.

Hope this helps,

JKCPA and 4 other Tax Specialists are ready to help you