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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4677
Experience:  35 years tax experience, including four years at a Big 4 firm.
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Can you please explain the application of line 27b Reserved

Customer Question

Can you please explain the application of line 27b Reserved for future for my small business taxes
Submitted: 1 year ago.
Category: Tax
Expert:  PDtax replied 1 year ago.
Hi. I'mCustomer I'll assist. I think you are referring to Schedule C, line 27b. The form designers needed to outline a form month in advance, and this just allows them to format the form so that an additional expense, if allowed by late-in-the-year legislation, would be allowed. They have to design forms and program their computers to process by line number. It wasn't used for 2015, so they described it as "RESERVED FOR FUTURE USE'. It will have no impact on your return. Thanks for asking at just Answer. Please rate my assistance when you accept my response. Positive feedback is appreciated. I'mCustomer