In this paper, we consider the one‐dimensional Schrödinger operator on bounded time scales. We construct a space of boundary values of the minimal operator and describe all maximal dissipative, maximal accretive, self‐adjoint, and other extensions of the dissipative Schrödinger operators in terms of boundary conditions. In particular, using Lidskii's theorem, we prove a theorem on completeness of the system of root vectors of the dissipative Schrödinger operators on bounded time scales. Copyright © 2016 John Wiley & Sons, Ltd.