Non-deductible expense

[bg5987]

My LLC made a donation to a scholarship fund that is a charity, it give you a state tax credit for up to 75% of the amount given which you cannot take the deduction on you Federal taxes.  The other 25% you can take on your Federal taxes.  $3000 was made by check I only can put in the Charitable contributions the $750 the other $2250 makes the Capital and balance sheet off.  Is there a way of entering an off set in Turbo Tax that will correct the for the 2250 or will I just have to be off on my quickbooks accounts?

Thanks

[ee-ea]

Your question should be asked in the Quickbooks community.

https://quickbooks.intuit.com/learn-support/us-quickbooks-community/misc/03/community-us#

[Rick19744]

Is this a multi-member LLC or a single member LLC?

If this is a multi-member LLC, then you need to determine how to adjust for a book / tax difference (known as an M-1).

If a single member LLC, then you will just have this difference or make a decision on how you want your books and records to be maintained or maintain two balance sheets.

[bg5987]

Thanks

It is a multiple member, but I own 98.5%, I'll read up on the M-1 to see if I could have used it.  I did it another way on my books.