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Penalty for compensatory damages

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    #1

    Penalty for compensatory damages

    Penalty for compensatory damages other than punitive damages are deductible as business expense.
    Then, does late payment penalty for capital lease or business loan deductible? Any good reference to publication or code?
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    #2
    You are referring

    to late payment charges. It's deductible as interest.

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      #3
      Non-home-mortgage business loan or capital lease?

      I know I can deduct late payment charge as home mortgage
      interest. Does it also apply to Non-home-mortgage business loan or capital lease?

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