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Do I deduct my LLC's non-cash charitable donations on my personal income taxes?

I had $1300 ($650 at 50%) in non-cash charitable donations through my LLC partnership this year. It is showing up on all the appropriate Business tax forms, including the K1s, but it doesn't seem to be actually deducting the $650 in any way. Is this something I apply to our personal taxes? And, if so, does it go in charitable donations on our personal taxes? If not, where do we deduct it?

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2 Replies
MinhT1
Expert Alumni

Do I deduct my LLC's non-cash charitable donations on my personal income taxes?

If the amount of charitable donations is reported on Schedule K-1 and you enter it in the Schedule K-1 entry form. TurboTax will transfer the amount to your Schedule A - Itemized deductions under Charitable contributions.

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Do I deduct my LLC's non-cash charitable donations on my personal income taxes?

it should appear on schedule A under charity - non-cash, however, if you can't itemize scheule A won't appear and thus you won't see it. 

form 8283 instructions

If the partnership or S corporation is not required to
give you a copy of its Form 8283, combine the amount of
noncash contributions shown on your Schedule K-1 with
your other noncash contributions to see if you must file
Form 8283. If you need to file Form 8283, you do not have
to complete all the information requested in Section A for
your share of the partnership's or S corporation's
contributions. Complete only column (h) of line 1 with your
share of the contribution and enter “From Schedule K-1
(Form 1065 or 1120S)” across columns (d)–(g). (turbotax doesn't use d-g only column A 

 

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