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Where do I enter cash gifts in Turbo Tax Business that I gave to individuals?

 
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3 Replies

Where do I enter cash gifts in Turbo Tax Business that I gave to individuals?

What tax form are you completing ?  1120S?  1065 ?

Where do I enter cash gifts in Turbo Tax Business that I gave to individuals?

I'm not directly completing a form.  I'm going step by step in Turbo Tax Business.
Anonymous
Not applicable

Where do I enter cash gifts in Turbo Tax Business that I gave to individuals?

also note that gifts to customers are limited in $ amounts that are deductible -  $25 per-year per-person.  


except for

A) an item having a cost to the taxpayer not in excess of $4.00 on which the name of the taxpayer is clearly and permanently imprinted and which is one of a number of identical items distributed generally by the taxpayer, or

(B) a sign, display rack, or other promotional material to be used on the business premises of the recipient

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