s corp expenses paid after business closes

[oceanlovin'ea]

The taxpayer agreed to keep the telephone number of the s corporation in service till the end of the year. Since the business closed earlier in the year, the taxpayer paid that out of his personal expenses.

Can that be a deduction on his tax return? Similar to UPE on a partnership return. I read in the TaxBook that there is no provision for that. But in the case where the business has closed and then expenses had to be paid such as this and the final 940 which wasn't paid until 2013, isn't there a way to take that deduction?

Linda, EA

[veritas]

In TTB

The taxpayer agreed to keep the telephone number of the s corporation in service till the end of the year. Since the business closed earlier in the year, the taxpayer paid that out of his personal expenses.

Can that be a deduction on his tax return? Similar to UPE on a partnership return. I read in the TaxBook that there is no provision for that. But in the case where the business has closed and then expenses had to be paid such as this and the final 940 which wasn't paid until 2013, isn't there a way to take that deduction?

Linda, EA

on page 18-19 Deluxe Edition Post-termination expenses.

By the way it was not easy to find since there was no reference in the index.

[oceanlovin'ea]

Thanks

Thanks so much. That was just what I needed.

REturn finished and delivered. Client extremely satisfied.

Linda, EA