- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I list sole proprietorship business closure contributions
I closed my sole proprietorship business on 12-31-17, and contributed books to a university. Where do I list this on the turbo tax form?
Topics:
posted
June 6, 2019
10:19 AM
last updated
June 06, 2019
10:19 AM
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I list sole proprietorship business closure contributions
You can't deduct a charitable contribution as a Schedule C business expense, but you can put the donation on your Schedule A as an itemized deduction.
For more information, please see the discussion of charitable contributions in IRS Pub 535, Business Expenses and the FAQ below.
June 6, 2019
10:19 AM
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Where do I list sole proprietorship business closure contributions
You can't deduct a charitable contribution as a Schedule C business expense, but you can put the donation on your Schedule A as an itemized deduction.
For more information, please see the discussion of charitable contributions in IRS Pub 535, Business Expenses and the FAQ below.
June 6, 2019
10:19 AM
Still have questions?
Make a post